New Study Examines Consumer Pulse on Diversity and Inclusion Initiatives

Today, Millennials represent 30 percent of the population and are regarded as the most diverse in U.S. history with nearly 44 percent identifying as an ethnic or racial minority. According to Russell Reynolds Associates, this shift has caused customer attitudes, and behavior, to change as well, finding 60 percent of shoppers wanting retailers to “be a part of the dialogue around social issues.” Despite consumers demanding not only brands that prioritize diversity and inclusion but also creating distance with brands that fail to embrace social values, the research found that “more than half of consumer organizations [to be] in the early stages of diversity and inclusion strategy or [have] no strategy at all.” Further, only 32 percent of consumer executives told Russell Reynolds Associates that their leaders “make a visible commitment to diversity and inclusion.” Forty-two percent of consumers responded to the company’s survey saying they would pay a premium of 5 percent, or more, to shop at a retailer where they can see a commitment to diversity and inclusion. Store environment and diverse products and services are listed as the top catalysts for consumers to consider another brand. The report highlights efforts made by Chobani internally showing visible commitment by offering fully

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