Purpose beyond profit: how consumer behaviour has changed in 2020
Throughout the year, AT&T’s advertising company Xandr, in partnership with The Drum, has been evaluating consumer behaviours in digital advertising.
This video focused on 'purpose beyond profit' and delves into how consumer behaviour has changed as a result of Covid-19
Now, in this new short series, we interview three consumers across different demographics to further understand their changing consumer habits over the course of 2020.
We also hear from a panel of experts that includes Mindshare partner Victoria Cook and Capgemini Invent vice-president Steve Hewett as they look at the potential areas of growth that marketers should be considering in order to achieve success in 2021. These are: 'Boomers go digital', ‘purpose beyond profit’ and ‘experience matters’.
This video – focused on the second trend in our series, ‘purpose beyond profit’ – delves into how consumer behaviour has changed as a result of Covid-19. In it, we consider the impact the pandemic has had on consumers around brand ethics and purpose, with studies suggesting this is becoming a more important factor in a consumer’s purchase decision, with brands having to think about how the needs of their consumers have shifted in order to adapt accordingly.
Brand authenticity and a sustainable in-house culture ranked favourably among interviewees, who preferred to buy from a brand that demonstrates some level of empathy for society as a whole, while Xandr suggests that marketers focus on purpose ahead of profit by readdressing their metrics for calculating ROI if they’re wanting to resonate and remain relevant to their consumers.
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