Dan Smythe, vice president of retail and hospitality at EPAM Continuum, an influential technology and business strategy consultancy, discusses the findings of the Consumers Unmasked 2 survey, which examined changing spending habits and sustainability preferences during the pandemic. He reports that people are actively considering companies’ environmental and social impacts when making purchasing decisions. For example, 46% of survey respondents said they buy sustainable products when the choice is available. Respondents also showed growing sophistication about corporate sustainability and social performance. Listen to a discussion of last year’s survey results to hear how consumer concerns are changing.
EPAM is telling its clients to design shopping experiences that demonstrate honesty and transparency, now among the most important issues for shoppers. Rising interest in sustainability — and a willingness by 39% of respondents to buy used products to reduce their environmental impact — points to a sea change in the priorities of companies that want to retain their customers in the Climate Crisis Era.
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