70% of customers will abandon brands that do not take sustainability seriously

New Ideas in MarketingEssential news for marketers, summarised by YouGov
April 20, 2022, 9:47 AM GMT+0

Consumers believe AI and bots can help brands achieve sustainability goals effectively.

The latest Oracle study found that a majority of consumers are willing to cancel their relationship with a brand if it does not take sustainability and social initiatives seriously. Moreover, 87% of customers are also willing to pay a premium for the products and services of companies that clearly demonstrate making progress on environmental and social causes.

About 45% of consumers feel businesses can make changes that are more meaningful to sustainability and social factors, than individuals and governments alone. But, 78% of respondents were actually frustrated with the lack of progress by businesses. According to the report, 84% of customers believe AI can help businesses make more progress towards sustainability and social goals.

61% of respondents said bots would succeed in areas that humans have failed, with respect to sustainability efforts. In fact, 93% of businesses trust a bot over humans to make sustainability and social decisions and execute tasks like collecting data without error and predicting future outcomes based on metrics.

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