Part of the Trends category
Conscious consumerism is the process of consumer selection of products or services with a positive impact on the environment or boycotting those with a negative impact. The conscious consumer is the economic agent who bases his purchasing decision on the social, ecological, political, economic or ethical impact.
For example, conscious consumers in Spain will be more inclined to contract Repsol services for their household electricity needs, taking into account the company’s strategy for the next 10 years to switch to renewable energy 100%. Another example would be a boycott of export food to support domestic food, or a preference for Microsoft services and products because of the company’s extensive philanthropic actions.
Many companies have managed to adapt the business model to this trend, obtaining added benefits and even a higher level of sales. For example, Wal-Mart supports social causes during Christmas and invites carolers to sit at the entrance to the store. Many shoppers are drawn to these socially responsible activities, giving Wal-Mart support during the winter holidays.