Paper Key : IRJ************789
Author: Gayatri Satija
Date Published: 08 Jul 2024
Abstract
Ethical consumerism is a growing phenomenon in which consumers make purchasing decisions based on their moral values and ethical beliefs. This concept encompasses various aspects, including environmental sustainability, fair trade, animal welfare, and social justice. Ethical consumerism has gained popularity in recent years as consumers become more aware of the impact their purchases have on the world around them. This research paper provides an overview of the literature on ethical consumerism, including its definition, historical development and key characteristics. Well also discuss the various factors that influence ethical consumer behaviour such as personal values, social norms, and marketing strategies. Consumerism is a significant force in modern society, and it influences the way people make purchasing decisions. Studies have shown that ethical consumerism can have a significant impact on companiesbehaviour. Companies that prioritize sustainability, fair trade, and ethical labour practices tend to attract more ethical consumers, leading to increased profits and a positive reputation. On the other hand, companies that engage in unethical practices risk losing customers and damaging their brand image. The rise of ethical consumerism has also led to the development of certification schemes and labels, such as the Fairtrade label, which allows consumers to easily identify products that meet certain ethical standards. These labels can help consumers make more informed purchasing decisions and hold companies accountable for their actions. However, ethical consumerism is not without its challenges. One of the main issues is the lack of transparency in supply chains, which makes it difficult for consumers to know whether the products they purchase are truly ethical. Additionally, ethical products can often be more expensive, making them less accessible to lower-income consumers. Despite these challenges, ethical consumerism is a powerful tool for promoting sustainability, fairness, and social justice. As more consumers become aware of the impact their purchasing decisions have on the world, it is likely that ethical consumerism will continue to grow in popularity and influence. Ethical consumers prioritize the following issues in their purchasing decisions: Environmental sustainability, fair trade and labour practises, animal welfare, product safety and quality , local and organic food production and the impact of ethical consumerism . Thus, the tools that will be used to collect the data will be both primary and secondary
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