My first thought when thinking about products wise consumers would purchase was thinking about how people in the coldest parts of the country approach buying winter coats. Although this might seem like a slightly obscure example, I think that it encapsulates a lot of what wise consumption is. A good winter coat may be worn nearly every day, October through April, for many years, its truly a long term investment. In addition, winter coats are expensive, so people frequently do research, read reviews, or ask friends advice before investing in one. Buyers weigh fill materials and levels against hem length and waterproofing, they consider how jackets are stitched to ensure longevity, and the fabric the fill is cased in. Because winter coats are such a valuable part of life in the north, buyers remember which brands they trust, and which have burned, or perhaps frozen, them previously. Buyers particularly love brands like L.L. Bean, which offers a year-long return policy, or Patagonia which does not have a time limit for returns, but asks they be returned “in a timely manner”, and offers repairs at any Patagonia store. Finally, buyers are increasingly becoming aware of the abuses in this industry and are clearly favoring more sustainable brands. For example, after the backlash of how harmful harvesting down can be, brands like Patagonia have switched to providing coats filled with recycled down that has been reclaimed from older coats, and many brands offer a synthetic fill alternative to avoid the issue all together.
In a more general sense, I think that wise consumers are enticed by authenticity, sustainability, and connectivity. When companies come off as authentic, rather than primarily focused on profits, consumers notice. Wegmans and Patagonia are great examples of authentic companies. Both are known for paying fair wages, Wegmans is known for emphasizing employee training and awarding large sums of tuition assistance, while Patagonia focuses on sourcing their materials ethically and promoting the recycling of their clothes through programs like Worn Wear. On the other hand, companies like Beyond Meat, Impossible Foods, and the Girl Friend Collective have been brought into the spotlight just because they’re seen as authentic, and well established companies like Starbucks, IKEA, Microsoft, and Apple have all gained massive amounts of media attention for switching to more sustainable policies. Companies like Denny’s, Wendy’s, and Spotify have entirely reshaped, or created their image just from social media and tweets that are seen as “relatable” to the everyday consumer, and actively engage with them.