A 2018 global survey by Accenture Strategy of 30,000 consumers in 35 countries indicated that nearly two-thirds of them (62%) find brands with high ethical values attractive. That’s potentially a problem for companies in the luxury sector, because people often see luxury goods as a wasteful self-indulgence and potentially damaging to the environment, especially if they are highly engineered or decorative.
Traditional approaches to improving a company’s ethical positioning — for instance, by adopting fair labor practices and using recycled or organic materials — may not work well for luxury brands. To begin with, marketers need to be careful to send the right signals …
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