US consumers believe brands should reconsider doing business in Russia

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Sixty per cent of the consumers in the United States believe that brands should reconsider doing business in Russia or partnering with Russian companies in response to the country’s invasion of Ukraine, according to Gartner, Inc. Consumers are much more sophisticated now in their thinking about the way that business operations impact society.

Most of them see multiple paths for corporate response, in categories that line up with top, specific consumer worries about the war. A Gartner survey of 281 consumers based in the US between February 25 and March 1, 2022 found that nearly three-quarters of U.S. consumers are concerned about the Russian invasion of Ukraine and as a result, see several potential actions for companies that operate in the US to take.

“This is a signal that CMOs who focus on the US market must consider consumer expectations for corporate response,” said Kate Muhl, vice president analyst in the Gartner Marketing practice. “Doing so will provide a roadmap for protecting their companies’ reputations. It will also surface opportunities to demonstrate core values and build brand trust at a time of heightened awareness and sensitivity.

Sixty per cent of the consumers in the United States believe that brands should reconsider doing business in Russia or partnering with Russian companies in response to the country’s invasion of Ukraine, according to Gartner, Inc. Consumers are much more sophisticated now in their thinking about the way that business operations impact society.

After reconsidering doing business in Russia, or with Russian companies, consumers’ top priorities for actions that companies should take include ensuring the safety of their employees and personnel who are in the war zone (55 per cent), preparing emergency plans to ensure that anybody connected to their organization is safe (46 per cent) and minimising disruptions that would lead to consumer good shortages or price increases (46 per cent).

“However, our findings also show that while the US consumers want businesses to take concrete action, they’re not eager to hear about it directly from those businesses yet. Marketers should focus first on developing a compelling storyline about company activities, so teams are ready to take action when consumers do become more open to hearing from brands about actions they’ve taken,” explained Muhl.

Seven out of 10 consumers rated their level of concern about Russia’s invasion of Ukraine at a four or five, where five is extremely concerned. Four out of 10 consumers rate their concern for potential personal impact of the conflict with a four or five (where five is extremely concerned).

Consumers identified fuel or energy prices going up as their top concern (60 per cent), followed by safety/wellbeing of people outside the US (56 per cent) and cyber attacks against the US entities (56 per cent). While consumer expectations are likely to shift as the crisis continues to unfold, now is the time for marketers to assess the Ukraine-relevant exposure, and any actions their companies are taking. 

Fibre2Fashion News Desk (RR)





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