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In the past, market demand was primarily driven by basic necessities—food, clothing, medicine, and shelter. However, with the rise of capitalism and industrialization, demand has shifted toward a broader range of goods and services. Factors such as technological advancements, changes in lifestyle, and evolving societal values now play a significant role in shaping customer needs and influencing a company’s market value. The more complex the demand, the more companies must work to translate needs into tangible products and services. This is where creating values can be extremely beneficial.
THE IMPORTANCE OF SHARED VALUES
In today’s digital age, where businesses can engage with customers instantly, the variety of options available can be overwhelming. To stand out, brands must create shared value with their consumers. This can be achieved by focusing on environmental sustainability, adopting a circular economy approach, or offering jobs to the community, all while prioritizing both People and Planet. Once a brand successfully integrates shared value into its business model, it fosters a strong sense of connection and trust with customers, encouraging them to pay a premium based on shared beliefs. This, in turn, drives market value, where the price is agreed upon by both buyers and sellers. According to theroundup.org, a sustainability solutions provider, 55% of customers are willing to pay more for brands focused on sustainability, with products from these brands growing 2.7 times faster. Consumers also contribute back to the brand’s value—becoming brand ambassadors, for example.
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ACTION WELL DONE
Brands must "do good" as much as they say they do. Take Too Good To Go, a food waste management platform connecting users with restaurants, bakeries, and coffee shops that sell surplus food at discounted prices. By aligning with stakeholders on the shared goal of reducing food waste, Too Good To Go creates genuine market value. According to the United Nations, nearly 1 billion tons of food—17 percent of all available food worldwide—is wasted each year, contributing over 8 percent of global greenhouse gas emissions. By helping reduce this waste, Too Good To Go conserves water, energy, and resources, making a tangible impact that resonates with environmentally conscious consumers.
Ultimately, brands that focus on creating shared value are likely to build stronger resilience. Today’s consumers are less focused on price alone and more interested in a brand’s mission. When a business fosters a mutually beneficial relationship with its customers, it creates a sense of connection, allowing consumers to actively support causes they both care about. This approach not only strengthens loyalty but also builds a lasting attachment between brands and their customers.
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