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Ethical consumer spending and finance in the UK reached almost £122bn at the end of 2020, a 138% increase on just over £51bn in 2010, and there was an 18% rise in boycotts on ethical grounds, totalling nearly £4bn in 2020. But how do organisations understand what their customers want from products and services now and in the future?
A 2010 McKinsey study (which is helpful to read even today) of more than 1,000 major business investments showed that when organizations worked at reducing the effect of bias in their decision making processes, they achieved returns up to 7% higher. The proof is in the numbers.
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