Why Virtue Is The New Cool!

Among other things, the pandemic of 2020 has necessitated the need to align businesses with values such as transparency and social responsibility. Brands that genuinely champion causes are likely to resonate better with the socially aware millennial consumers of today. Ian Johnston, Founder and Creative Director at Quinine, a world-leading retail experience consultancy known for its research-driven user-centric design approach, explains why virtuous brands have an edge today, and how retail space and experience can best reflect a brand’s values and virtues.

- N. Jayalakshmi

Priorities of the modern consumer have shifted to make kindness and empathy the key to sustained market growth and consumer trust and loyalty. The Millennial generation is the largest in history and has unprecedented buying power. This younger consumer group has a different set of values than the generations before them; they want a job that they are passionate about and they view their consumer choices as a mechanism to support movements and make change. Their concept of identity is intertwined with consumerism, where buying products and supporting brands is a form of self-affirmation.

As brands try to capture the attention of consumers, there has been a shift from brands seeking engagement, to having to earn public approval. Making quality products or supplying quality services is no longer enough, brands need to benefit society. Successful brands of the future must be virtuous. And the most successful retail brands will have virtuous store experiences.

What do we mean by virtuous?

Virtuous is conforming to moral and ethical principles. Virtuous brands do good things because it is an extension of their brand DNA. There is no playbook for what is considered virtuous. Truly virtuous brands act because they feel it is the right thing to do, irrespective of judgements or profits.

Why do we need virtuous brands?

We need brands to be virtuous because brands have power and wield influence. Today, brands are replacing politics and religion as moral pillars that we trust and seek guidance from. Global brands can wield their power to make large scale change. Brands have the ability to take a stance, but they also tell stories and engage us in the process.