- Canadian consumers are increasingly demanding products that are environmentally friendly, locally produced, and promote health and wellness. Entrepreneurs should consider whether their business offers products or services that meet these socially conscious values. It is important for businesses to make a positive impact on their community, Canada, and the environment.

1. THE SOCIALLYCONSCIOUS CONSUMER:
OPPORTUNITIES
FOR ENTREPRENEURS
FINANCING | CONSULTING > BDC.CA

2. THE SOCIALLYCONSCIOUS
CONSUMER
Many Canadians
are concerned about
how their choices
affect the world
and their own
well-being.
The Socially Conscious Consumer: Opportunities for entrepreneurs > PAGE 2

3. THE SOCIALLY-CONSCIOUS
CONSUMER
Today, 3 key trends characterize this shift—and offer rich opportunities
for entrepreneurs.
ENVIRONMENTAL
AND SOCIAL
CONCERNS
THE
“MADE IN CANADA”
ADVANTAGE
The Socially Conscious Consumer: Opportunities for entrepreneurs > PAGE 3
HEALTH
CONSCIOUSNESS

4. ENVIRONMENTAL
AND SOCIAL CONCERNS
SOME TRENDS
• Half of Canadians are inclined to buy environmentallyfriendly products.
• Nearly one third of consumers are willing to pay a premium
for ethically-made products.
• One third of consumers have researched companies’ CSR policies
in the last year.
• 90% of consumers would stop buying from a company using
irresponsible practices.
The Socially Conscious Consumer: Opportunities for entrepreneurs > PAGE 4

5. ENVIRONMENTAL
AND SOCIAL CONCERNS
THE OPPORTUNITY
• Environmental and socially-responsible concerns are now part of many
consumers’ buying decisions.
• Enhancing and promoting the ethical and ecological aspects of your company
can attract customers and build loyalty.
The Socially Conscious Consumer: Opportunities for entrepreneurs > PAGE 5

6. ENVIRONMENTAL
AND SOCIAL CONCERNS
STRATEGIES
• Increase or build environmental and social responsibility
throughout your business.
• Seek out and form partnerships with responsible suppliers.
• Obtain certifications from trusted third-party organizations
recognizing your responsible practices.
• Tell people about your actions, including in advertising, social media
and product packaging.
The Socially Conscious Consumer: Opportunities for entrepreneurs > PAGE 6

7. THE “MADE IN CANADA”
ADVANTAGE
SOME TRENDS
• Canadians are proud of products and services made in Canada.
• Two thirds of Canadians have made an effort to buy Canadian
in this past year.
• 30% of Canadians are willing to pay more for a locally-made product.
• 97% of those who buy Canadian do so to support the local economy.
The Socially Conscious Consumer: Opportunities for entrepreneurs > PAGE 7

8. THE “MADE IN CANADA”
ADVANTAGE
THE OPPORTUNITY
• Canadians are buying locally to translate their social concerns into action.
• Canada is perceived internationally as “a model country”—
associated with open, trustworthy people and safe, high-quality products.
• Entrepreneurs can differentiate themselves from multinationals
by emphasizing Canadian links.
The Socially Conscious Consumer: Opportunities for entrepreneurs > PAGE 8

9. THE “MADE IN CANADA”
ADVANTAGE
STRATEGIES
• Source in Canada as much as possible.
• Communicate and promote the Canadian/local characteristics
of your products.
• Emphasize other Canadian/local features of your business,
such as R&D, product design, etc.
• Highlight your economic impact, such as jobs created, local partners, etc.
• Use the “Made in Canada” brand at home and abroad to capitalize
on positive perceptions.
The Socially Conscious Consumer: Opportunities for entrepreneurs > PAGE 9

10. HEALTH
CONSCIOUSNESS
SOME TRENDS
• In 2012, Canadian health and wellness services were worth $735 million.
• Sportswear sales in Canada reached $5.4 billion in 2012, a 5% increase
over 2011.
• 50% of Canadians consider the health impact of a product
before purchasing.
• 33% of Canadians are willing to pay a premium for healthy products.
The Socially Conscious Consumer: Opportunities for entrepreneurs > PAGE 10

11. HEALTH
CONSCIOUSNESS
THE OPPORTUNITY
• Health awareness is changing how Canadians eat, spend leisure time
and purchase products.
• Canadians spend an average of $935 per year on health and wellness.
• Consumers are actively seeking health and wellness benefits.
The Socially Conscious Consumer: Opportunities for entrepreneurs > PAGE 11

12. HEALTH
CONSCIOUSNESS
SUGGESTED STRATEGIES
• Provide new products/services to meet the public’s desire
for a healthier lifestyle.
• Adapt existing products/services to health-conscious consumers.
• Research health benefits of your products/services and use them
to differentiate yourself.
• Identify “hidden” benefits that can be marketed as healthor wellness-related (e.g.: ergonomics, comfort).
The Socially Conscious Consumer: Opportunities for entrepreneurs > PAGE 12

13. SUMMARY
• Canadian consumers are increasingly demanding products that are good
for the planet, for Canada and for their own bodies.
• Entrepreneurs should ask themselves if their business is offering
products/services that are ethical/ecological, locally produced and healthy.
• It is important to go beyond a “do no harm” mentality to consider how
your business can make a difference to your community, Canada and
the planet as a whole.
The Socially Conscious Consumer: Opportunities for entrepreneurs > PAGE 13

14. FINAL ADVICE
• Reorient products, services and business practices in line
with the socially-conscious consumer.
• Try to back up marketing claims with independent certification.
Claims with no backing can generate mistrust.
• Make ecological, local and health concerns an integral part
of your supply chain, R&D, etc.
The Socially Conscious Consumer: Opportunities for entrepreneurs > PAGE 14

15. REAP
THE REWARDS
By making these key changes to
your business, you will help your
company to:
• meet the evolving demands
of Canadian consumers;
• be more focused and innovative;
• enhance its reputation; and
• boost employee engagement,
operational efficiency and profits.
The Socially Conscious Consumer: Opportunities for entrepreneurs > PAGE 15
Business transitions: planning your succession > PAGE 15

16. SOURCES
• Abacus Data (2011)
• BDC-Ipsos survey (2013)
• Cone Communications-Echo Research study (2013)
• Deloitte analysis of Euromonitor database (2013)
• Euromonitor database (2013)
• Synovate Global Trends Survey (April 2011)
The Socially Conscious Consumer: Opportunities for entrepreneurs > PAGE 16

17. FOR MORE ADVICE, GO TO
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