We are all global citizens now. We all have embraced the digital age. Still, your local community has never been more important.
We see local products and services everywhere: supermarkets, restaurants, fashion, craft beer. This trend is driven by a sense of pride of your local community, convenience, fear of too much globalization and a sense that supporting your local community ultimately makes your community a better place to live. Consumers will continue to embrace ‘local’ products, services and knowledge.
The idea of local love is not driven by government or big institutions. It’s a grassroots effort, driven by small community groups or even individuals. Consumers understand that local and national administrations are struggling to address many social and economic issues. Combined with lack of trust in those institutions, consumers now look to progressive, local brands to step up and become agents of local change.
Credit unions have always been rooted in local communities, understanding which essential or desirable public services are lacking. Consumers are starting to expect of trusted, local brands to partner with local authorities or directly solve problems. It requires real commitment in service of values shared by the community and brand. Consumers are starving for this kind of attention: 61% of consumers would like their favorite companies to play a bigger role in their local community.