Values-based buying is an approach that takes into account the broader impact of purchasing decisions, rather than focusing solely on price and quality. Here are some of the core values often associated with values-based buying:
Consumers and businesses practising values-based buying often prioritise products and services that are produced in an environmentally sustainable way. This can include prioritising goods produced with renewable energy, organic farming methods, or minimal packaging.
Ethical Treatment of Workers:
Values-based buying can emphasise fair labour practices. This can include prioritising goods from companies that pay a living wage, ensure safe working conditions, or adhere to fair trade principles.
Support for Local Economies:
Some value-based buyers choose to support local businesses in order to stimulate their local economies and reduce the environmental impact associated with long-distance shipping.
Diversity and Inclusion:
Values-based buying can prioritise supporting businesses owned by underrepresented or marginalised groups, such as minority-owned businesses or companies run by women.
For some consumers, particularly those buying food or cosmetics, values-based buying might involve seeking out products that were made without harming animals, such as cruelty-free or vegan products.
Health and Wellness:
Some consumers prioritise products that contribute to personal health and wellness, such as organic food, non-toxic cleaning products, or goods without artificial additives.