A revolution is upon us, one that promises to reshape the world in incredible ways.
This revolution, focused on responsible consumption driven by informed purchase decisions, is something that everyone in the business world must adapt to and actively support. The alternative? Being left behind as the world marches forward.
Remember the last time you felt genuinely excited while researching a product? That thrill of finding the right item, confident in its quality and longevity—those moments have become increasingly rare in today’s consumer landscape. Instead, we’re inundated with an overwhelming array of choices, most of which involve disposable, one-time-use products that are difficult or impossible to repair.
We’re trained to hunt for deals, often ending up with subpar products that either get returned or discarded, ultimately contributing to the ever-growing landfill crisis. This is not just a wasteful practice; it’s reckless consumerism.
CONTENT
- The crisis of reckless consumerism
- The signs of the revolution
- The shift in consumer & corporate behavior
- The problem: A dilemma for businesses
- The solution: A product experience strategy
- The future of retail and responsible consumption
The crisis of reckless consumerism
We live in a world where reckless consumerism has become the norm. A staggering 99% of products are discarded within six months of purchase, as highlighted in Annie Leonard’s documentary, The Story of Stuff.
Deep down, we know this is not sustainable. The World Wildlife Fund has warned that if our current demands on the planet continue, by the mid-2030s, we will need the resources of two planets to maintain our lifestyles.
Despite this bleak scenario, there is evidence that people want to change. A study conducted last year found that 66% of buyers now spend more time validating products before completing a purchase, and two-fifths of consumers would be willing to spend more on brands that communicate their values.
Consumers are demanding better choices from businesses—choices that prioritize quality over quantity and embrace sustainability. This shift in behavior is the driving force behind this revolution against traditional consumerism.
The signs of the revolution
We’ve seen revolutions like this before. Historians widely agree that revolutions come in four stages:
- Symptomatic Stage: Here, the underlying issues become more apparent and widely recognized. Increased public discourse and debate lead to heightened awareness and a sense of urgency.
- Crisis Stage: This is a tipping point where actions are taken, often resulting in rapid changes. It’s marked by significant events that catalyze the shift, leading to the adoption of the new way.
- Recovery and Normalization Stage: In this phase, the new way becomes the normal way, the new standard.
- Evaluation Stage: Finally, there’s a period of reflection and evaluation.
Right now, we find ourselves deep in the Symptomatic Stage. The underlying issues of reckless consumerism are becoming more apparent, sparking public discourse and debate. People are speaking up, joining forces, and successfully pressuring companies to change their ways. Movements like “Buy Nothing Day,” which sees participation from millions worldwide, are becoming more popular, signaling a growing desire for change.
The shift in consumer & corporate behavior
Another clear sign that we are nearing the Crisis Stage of this revolution is the shift in consumer behavior. A survey we here at Akeneo conducted last year revealed that two-thirds of consumers now spend more time researching and validating their purchases. They are not only looking for products that meet their needs but also prefer to buy from companies that demonstrate responsibility and provide quality products. This change is especially pronounced among younger generations, who are 27% more likely to purchase from brands that care about their impact on people and the planet.
This growing emphasis on minimalist lifestyles, where experiences and relationships are prioritized over material possessions, is another indicator of the revolution. The trend toward purposeful purchases is gaining momentum, with consumers increasingly cutting out unnecessary items from their lives.
Businesses, too, are responding. Corporate Social Responsibility (CSR) initiatives are on the rise, with over 90% of companies on the S&P 500 now publishing CSR reports, compared to just 20% a decade ago. B Corps, companies certified for meeting high social and environmental performance standards, are also gaining popularity, with over 6,500 certified B Corps worldwide across various industries.
The sharing economy is another significant aspect of this revolution that can’t be ignored, with the market valued at $150 million in 2022 is expected to grow to $794 million by 2028. The core premise of the sharing economy is to maximize the use of existing products, ensuring that items are used to their full potential before being discarded.
Perhaps the most telling sign that we are approaching the Crisis Stage is the growing intervention from governments imposing new regulations and standards. In the U.S., six states have already enacted Right to Repair laws, with many more considering similar legislation. These laws empower consumers to repair their own products rather than being forced to rely on the original manufacturers.
The European Union is also taking action by introducing the Digital Product Passport (DPP), set to roll out in 2026. This regulation will require businesses selling products in the EU to disclose detailed information about every material used in their products, including how and where they are made.
These regulations are just the beginning. As they continue to be implemented, businesses will have no choice but to comply or face the consequences.
The problem: A dilemma for businesses
While these developments are powerful indicators of the revolution, they also present a dilemma for businesses. Despite recognizing the mounting pressure from consumers and regulatory agencies, many companies may realize that they have, perhaps inadvertently, been encouraging the opposite behavior to provide a great customer experience.
To understand the customer, businesses have meticulously crafted strategies to guide consumers through carefully prescribed journeys—enticing them with flash sales, free returns, and the latest versions of products. This hyper-focus on customer experience has led to a culture of irresponsible selling, where consumption is seen as essential to economic growth. Companies have planned obsolescence into their products, kept prices artificially low to encourage more purchases, and driven the cycle of reckless consumerism.
But the tide is turning. The people have spoken, and they demand better. The revolution is coming, and businesses must choose to be on the right side of history. Ignoring or resisting this change will not only harm a company’s reputation but also its bottom line.
Embracing this revolution, however, does not mean abandoning capitalism; in fact, high-purpose brands are poised to double their market value more than four times faster than low-purpose brands. There is a significant financial opportunity to fuel this responsible consumption revolution.
The solution: A product experience strategy
The path forward lies in shifting from a focus on customer experience (CX) to a focus on Product Experience (PX). Instead of pushing sales and encouraging thoughtless spending, businesses should provide buyers with comprehensive information that enables them to make informed decisions, creating confident buying experiences that benefit both the business and the environment.
Here are three actionable steps to engage in this revolution right away:
Step 1: Implement a high standard of engaging product data
The first step is to ensure that your product information is complete, rich, contextual, and emotionally engaging across all channels where it surfaces — before, during, and after the purchase.
Step 2: Participate in the sharing economy
Once your PX standard is set, the next step is to participate in the sharing economy. This rapidly growing market offers opportunities for businesses to capture value from refurbished, rental, or pre-loved products, while also building customer loyalty.
Step 3: Empower your buyer with environmental transparency
The final step is to empower your buyers by being transparent about your environmental and social responsibility initiatives. Proactively showcasing your efforts can win customer loyalty and drive sales.
The future of retail and responsible consumption
This is the future of retail — one where responsible and informed consumption takes center stage. Businesses that choose to embrace this revolution will not only differentiate themselves early on from competitors stuck in outdated practices but will also secure their place on the right side of history.
By setting a high standard for product experiences, companies can showcase their commitment to responsible consumption, not only driving sales and reducing returns but also fostering loyalty among customers who increasingly value sustainability and social responsibility.
The companies leading this charge are doing so within a broader PX Strategy, often with the involvement of the C-suite and board-level discussions. Now is the time to move beyond the obsession with CX and prepare for a future where buyers prioritize transparency and environmental impact as much as price and convenience.
About the author: Casey Paxton is the Content Marketing Manager at Akeneo, the Product Experience company that enables organizations to deliver enriched, engaging, and consistent product experiences across the entire customer journey. Paxton graduated from Northeastern University and has immersed herself in the world of software since. With a passion for storytelling and staying ahead of the commerce curve, Paxton is a three-time published author and frequent contributor to popular business publications, as well as Akeneo’s Product Experience blog, on topics focused around eCommerce, retail, and emerging software trends.