What is Ethical Consumerism?

In a world where corporations make decisions that individuals may not agree with, ethical consumerism allows people to make choices that can make an impact on the greater good. Consumers (and their money) have a voice and power when it comes to supporting the things they believe in.

Ethically-focused consumerism enables individuals to choose where their money goes and, therefore, what companies and ideas receive their support.

How Does Ethical Consumerism Work?

Much like the name implies, ethical consumerism is all about consumers acting in accordance with their ethical frameworks. It utilizes the power of the free market and allows consumers to use their money to show support to companies following certain ethical guidelines.

For many, ethical consumerism is all about spending money with ethical companies while leaving those making questionable choices out to dry. It gives consumers the power to support and empower companies that are making ethical business decisions.

Example of Ethical Consumerism

An everyday example of ethical consumerism are the labels such as fair trade and B Corp. These titles are earned from commitments to certain business practices and prove that a company is aligned to a certain set of standards.

Products with these labels often sell better because customers believe that when they spend their money on these products, they are supporting the creation of ethical business practices.

Many consumers believe that when they spend money on these products, they are helping change the landscape of the market to realign with their ideas.

The Future

Ethical consumerism is of course growing. Customers are armed with much more information about company malpractice, the implications of long supply chains, animal testing, low-wage labor, sustainability and overall environmental impact.

Furthermore, greenwashing and performative behaviors from companies are being called out more and more by customers that demand transparency, not shallow statements.

The next hurdle will be the cost of living crisis and how this affects the choices of the conscious consumer. Something covered in our next blog.