Key Highlights
- Companies in the top quartile for gender or ethnic diversity are 35% more likely to have financial returns above their industry median
- 78% of consumers say diversity and inclusion are important when choosing brands
- 45% of consumers are more likely to buy from brands that promote diversity and inclusion
- Companies with diverse leadership are 1.4 times more likely to have and execute on their relational and strategic decisions
- 62% of consumers said they are more loyal to brands that demonstrate a commitment to diversity
- 55% of Fortune 500 companies have publicly announced diversity and inclusion initiatives
- 40% of respondents in a survey want brands to feature diverse models, characters, or spokespeople
- In 2023, 66% of consumers believe brands have a moral obligation to support social justice issues
- Consumer products companies that implement inclusive marketing see an average revenue increase of 12%
- 70% of employees in consumer product firms believe diversity initiatives improve innovation
- Only 22% of brand marketing campaigns feature diverse talent
- Companies with inclusive cultures are 6 times more likely to be innovative
- 58% of consumers feel that brands should actively promote inclusivity in their advertising
Diversity, Equity, and Inclusion are no longer just buzzwords—they’re essential drivers of success in the consumer products industry, with data showing that inclusive brands outperform competitors, earn greater consumer trust, and experience significant boosts in innovation and revenue.
Consumer Attitudes and Behaviors Toward Diversity and Inclusion
- 78% of consumers say diversity and inclusion are important when choosing brands
- In 2023, 66% of consumers believe brands have a moral obligation to support social justice issues
- 58% of consumers feel that brands should actively promote inclusivity in their advertising
- 85% of female consumers prefer brands that promote gender equality
- 55% of younger consumers (aged 18-34) consider diversity and inclusion when making purchase decisions
- 57% of consumers believe brands should actively seek to represent diverse communities
- 70% of consumers prefer purchasing from companies that actively promote environmental and social inclusivity
- 60% of consumer product companies have increased their focus on inclusive product development in the past three years
Consumer Attitudes and Behaviors Toward Diversity and Inclusion Interpretation
Corporate Diversity and Inclusion Initiatives and Strategies
- 55% of Fortune 500 companies have publicly announced diversity and inclusion initiatives
- 60% of companies agree that D&I initiatives improve employee satisfaction
- Only 18% of marketing budgets are allocated to diversity-focused initiatives
- 80% of consumer product executives acknowledge that D&I is a key driver for innovation
Corporate Diversity and Inclusion Initiatives and Strategies Interpretation
Impact of Diversity on Brand Loyalty and Purchasing Decisions
- 45% of consumers are more likely to buy from brands that promote diversity and inclusion
- 62% of consumers said they are more loyal to brands that demonstrate a commitment to diversity
- 48% of consumers have switched brands due to perceived lack of diversity and inclusion
- Minority-owned brands represent only 8% of the total consumer product market share
- 72% of consumers say they’re willing to pay more for brands that demonstrate social responsibility for diversity
- Consumer brands with an explicit DEI strategy are 2.5 times more likely to outperform their competitors
- 59% of consumers say they are more likely to trust brands with transparent diversity policies
- 84% of consumers say they pay more attention to brands they perceive as diverse
- 54% of consumers say they are more likely to support brands that have diverse leadership
- Companies that publicly share D&I data see 20% higher consumer trust levels than those that do not
- 80% of consumers say that brands showcasing diversity are more trustworthy
Impact of Diversity on Brand Loyalty and Purchasing Decisions Interpretation
Representation and Inclusive Marketing Practices
- 40% of respondents in a survey want brands to feature diverse models, characters, or spokespeople
- Consumer products companies that implement inclusive marketing see an average revenue increase of 12%
- Only 22% of brand marketing campaigns feature diverse talent
- 85% of consumers want brands to reflect the diversity of their communities
- 45% of consumers feel underrepresented in marketing and branding campaigns
- 41% of marketing campaigns in 2023 included at least one diverse cultural or ethnic group representation
- Only 29% of published marketing content features LGBTQ+ representation
- 68% of consumers believe that inclusive packaging and advertising should be the norm for brands
- 72% of brands reported using diversity in their product marketing strategies in 2023
- 62% of consumers feel brands are more authentic when they showcase diversity in advertising
- 89% of marketers agree that diversity positively impacts creativity in marketing campaigns
- 46% of advertising campaigns ignore cultural diversity, leading to consumer mistrust
- 54% of people from minority groups feel that brands do not do enough to represent their communities
- 89% of marketing professionals agree that D&I should be prioritized in branding strategies
Representation and Inclusive Marketing Practices Interpretation
Workplace Diversity, Culture, and Recruitment Challenges
- Companies in the top quartile for gender or ethnic diversity are 35% more likely to have financial returns above their industry median
- Companies with diverse leadership are 1.4 times more likely to have and execute on their relational and strategic decisions
- 70% of employees in consumer product firms believe diversity initiatives improve innovation
- Companies with inclusive cultures are 6 times more likely to be innovative
- 52% of companies report challenges in recruiting diverse talent within the consumer industry
- 63% of employees in consumer companies believe that diversity initiatives positively impact company performance
- 49% of companies lack comprehensive D&I training programs for their marketing teams
- 37% of consumer product executives report that their companies do not track diversity metrics
- 65% of employees in consumer brands believe that inclusive leadership is critical for success
- 64% of consumer product companies have increased their D&I budgets over the past two years
- 84% of employees in consumer goods companies agree that D&I initiatives improve company reputation
- The percentage of companies with diversity and inclusion executives increased by 22% from 2020 to 2023
- 66% of employees in consumer brands report increased engagement when working in inclusive environments
- Only 25% of companies have comprehensive D&I metrics integrated into overall business performance assessment
- 65% of employees believe that diversity and inclusion efforts should be a priority at all levels of leadership
Workplace Diversity, Culture, and Recruitment Challenges Interpretation
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