years ago, in his own book named Emotional Branding, Marc Gobé emphasized
that emotion drives action, which was a formula to make a difference in the
increasingly competitive knowledge economy. Nowadays, after nearly two
trong bối cảnh cạnh tranh của nền kinh tế tri thức. Giờ đây, sau gần hai thập
decades, this intangible factor has become the deciding factor of current trends
and relationships between brands and the Millennial customers.
In an interview about Millennials in the Workplace, Simon Sinek, one of the most popular speakers in the forum TED.com, stirred up buzz on social networks with his negative comments to some extend “They are somehow narcissistic, selfish, distracted, lazy and need to be recognised. We always perceive that they are lacking something…”. Seemingly, selfish, lazy, passive and over-dependent on technology are critical adjectives to describe the Millennials by default.
Despite sparking controversy on social media, talk shows or surveys, it is undeniable that the Millennials, who were born from 1980 to 1998, account for 32% of the world population and grow with social media and integrated economy, have being considered as the key labor force and major consumers of the global market with purchasing power amounting to USD 35.3 trillion or 16% in 2020, according to a report by Boston Consulting Group (BCG).
As compared to our ancestors who worked hard to earn money and emphasized physical values, the Millennial’s consumption behaviors have demonstrated the striking difference in recent years. While our ancestors valued possession, this young generation pay more attention to experience, especially health experience including physical health and wellness, and take deep interests in the sustainability of the living environment
The political and economic unrests all over the globe are one of the reason why the Millennials become more responsible for their surrounding living environment.
Greenhouse effect, garbage and sewage issues, violation against animal protection law… are directly causing unforeseen implication to human life. As opposed to their predecessors, the youth who are inherited the superiority of the digital age and social media easily acquire and update sources of knowledge and information on trends that bring benefits and pose threats to life. Thus, they are above all well aware of their own surrounding living environment and become the key driver of value of living environment.
Greenhouse effect, garbage and sewage issues, violation against animal protection law… are directly causing unforeseen implication to human life. As opposed to their predecessors, the youth who are inherited the superiority of the digital age and social media easily acquire and update sources of knowledge and information on trends that bring benefits and pose threats to life. Thus, they are above all well aware of their own surrounding living environment and become the key driver of value of living environment.
The Millennials’ interest in environment is demonstrated by their attitude toward jobs. In the US, 9 out of 10 Millennials state that they are willing to work for a company that value sustainability, and 1 out of 10 Millennials state that they will resign on finding that their owner is unaware of producing sustainable products.
Perhaps, in recent years, sustainability has become one of the key words that gains in popularity in cyberspace and other social media. Definitely, enterprises cannot ignore this, and above all, they are one that eagerly take part in environmental preservation.
To meet the apparent consumption demand of consumers in general and the Millennial consumer in specific, globe-wide brands are transforming their operation and products into more sustainable models by renewal activities. At year-end 2016, Walmart released its grand plan to raise its investment in the renewable energy sector, to commit that half of total consumed energy come from wind, solar power and other renewable energies by 2015 and reduce carbon emission by 18% during the same period. After 10 days, Microsoft unveiled the largest MA deals in the wind power sector agreed to acquire wind power of 237 megawatt from Kansas and Wyoming to operate the data center in Cheyenne.
Google also followed the lead to implement the largest renewable energy deal with purchase contract of 3 gigawatt output from solar and wind power farms all over the world. Facebook also announced to reduce greenhouse gas emission by 75% by using 100% of renewable energies by the end of 2020. Since 2008, US companies have signed agreements to acquire wind and solar power of more than USD 10 billion, equivalent to amount consumed by 2 million US residents in more than 1 year. Bloomberg New Energy Finance (BNEF) forecasts that the growth speed of this figure will increase more rapidly in upcoming decades when at least 50 US companies sign agreements to acquire clean energy in the long term.
Nowadays, 60% of Fortune 100 companies are using renewable energy sources or developing strategies to deal with climate change. According to the BNEF, 81 companies all over the globe are committed to using 100% renewable energy. Companies have tendency to invest in clean energy with 3 methods namely leasing clean energy from wind and solar power project in long-term agreements, buy stake equity in clean energy projects and purchase clean energies in order to remove the limit of pollution emission from their operation.
In the consumer goods sector, Unilever, the multinational company with more than 400 brand in 190 countries, is perhaps a brilliant name by setting a clear target of creating a sustainable life. CEO Paul Polman carried out an in-depth analysis of Unilever business model and clarify strategies to make sustainability become the DNA of any project. The Unilever model is being successfully operated to make companies become an environment-oriented brand. A recent survey by Gallup on active participation of global staffs in their workplace shows that the average level is 13% while Unilever’s level amounts to 80%, which indicates young labor’s awareness and attitude towards the living environment.
In the luxury industry, the year 2018 saw the announcement of nine world’s prestigious fashion brands about getting rid of production of fashion clothing from animal fur, including the top names such as Burberry, Gucci, Versace and Furla… Luxurious jewelry brands such as Chopard also switch to use Fairmined gold (gold certified to be mined by the traditional method complying with criteria of respecting environment and social rights of gold miners) to mold golden palm trophy as a message of commitment to contribute to sustainable environmental development. Last March, Chopard announced its plan to use 100% clean gold for all of its product line. Luxurious resort brands such as Grootbos in Southern Africa, Song Saa in Myanmar, Banyan Tree Lang Co in Vietnam… do not ignore the trend with implementation of social responsibility campaigns such as From Garden to Table, Seedlinds Mentoship,… which all drew attention of the community in general and tourists in specific.