Home Blog 2018 Social Responsibility in Sports Retail
May 10, 2018

Sneakernomics: Social Responsibility in Sports Retail

Subscribe to our blog

For some time now, there has been an investment approach around environmental, social and governance (ESG) standards. Studies have shown investing in companies that score highly on these characteristics outperform the market. The indexes used measure environmental uses and policies, corporate diversity, racial and gender diversification among executives and governing bodies, as well as human rights policies. Companies with a high score on sustainability and ethical performance tend to outperform those with low scores.

This concept of ESG is spilling over into consumer behavior, driven by Gen Z. Sports retailers and brands must pay attention to this critical change.

Gen Z is the most connected generation. They have never known a world without a smartphone. Consequently, they rely on social media for connection, communication, and commerce. They are likely to use social media to seek the opinions of their peers, not just on what is in fashion but to learn about the ethics of the brands and retailers they are considering.

They are also the most diverse generation, meaning it’s likely that as Gen Z consumers get older, they will gravitate towards brands and retailers that are more diverse, and will be more likely to withhold their business from those that are not.

Gen Z is progressive and political. They will not sit idly and hope that circumstances change. This generation is one that will likely push for change and respond more positively to those brands and retailers that follow suit.

As a generation that is out to change the world, Gen Z demands that brands take visible stands on social issues like diversity. According to a recent Forbes article, human rights is the primary cause for Gen Z, and equality is non-negotiable. Brands can no longer claim to be apolitical, and what they stand for must be transparent. If Gen Z disagrees with a company’s values, they will take their business elsewhere.

Gen Z also seeks meaning in their work, products, and brands. They value relationships above all else. This makes them both tolerant and respectful. Gen Z will demand that same tolerance and respect from their brands and retailers.

Gen Z understands that companies have a role in improving the world. They will demand that the brands and retailers invoke that role. Those that do not will lose their attention.



Stay current in your industry
SUBSCRIBE

Related Blog Posts

Tagged: Sports


Make Way for the Anglers
Make Way for the Anglers

Fishing has established itself as a growth driver for the U.S. paddlesports market, but is also emerging as a focus of growth for the broader specialty outdoor market. Dirk explains how, and why, fishing apparel and equipment are making their way into more stores that once avoided the category.

Sneakernomics: Back-to-School 2019 Athletic Footwear Trends
Sneakernomics: Back-to-School 2019 Athletic Footwear Trends

NPD’s sports industry advisor Matt Powell offers up his perspective on how the back-to-school season of today differs from years past, and what athletic footwear brands and products are trending this year.

Sneakernomics: Athletic Footwear and Activewear’s Performance in the 1st Half of 2019
Sneakernomics: Athletic Footwear and Activewear’s Performance in the 1st Half of 2019

NPD Sports Industry Analyst Matt Powell reviews the performance of athletic footwear and activewear categories during the first six months of 2019. From sport and performance footwear to athletic attire and more, this performance review takes a look at where the industry currently stands and could potentially be heading.

Sneakernomics: First Half 2019 Team Sports, Golf and Fitness Equipment
Sneakernomics: First Half 2019 Team Sports, Golf and Fitness Equipment

Given all the headwinds in team sports and golf, the industry fared better than expected in the first half of 2019. In this post, Sports Industry Analyst Matt Powell breaks down increases and declines from the first half of the year.

Newsletter

Subscribe and get key market trends and insights relevant to your industry each month.

We will not sell your information. View privacy notice.

Follow Us

© The NPD Group, Inc.