The Generosity Impact Report 2024
Does generosity boost business in the post-purpose world? To understand the value of brands that do more in the post-purpose era, Fold7 partnered with YouGov to survey 2,000 people on how they perceive generosity as consumers.
While ill-conceived and performative purpose strategies are being left behind, our new report shows that consumers are more likely to buy from brands that have generosity at the heart of their offering.
More than half of consumers value honesty and transparency from brands the most, followed by treating employees well, and rewarding customer loyalty – all of which are different definitions of generosity.
Providing an overview of how brands can better connect with consumers in a post-purpose age, the findings show that customers do still want more than just products from brands.
In the not so distant past, brands were busy building purpose into everything they did. But many of these purpose strategies were inauthentic in execution, prompting a backlash from consumers.
While companies are moving away from purpose strategies that come across as self-serving stunts, the report highlights that they should be moving towards generous actions.
Analysing the results across different sectors, the report covers banks, airlines, quick service restaurants, snacks, fitness, spirits, and tech, and identifies the winners and losers in each category.
Wonder how your brand scores on our Generosity Index™?
Get in touch with Hannah March to find out.
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