Each week, we compile and summarize the top articles on corporate social impact, impact investing, and conscious capitalism from around the world, and deliver it to your inbox every Saturday morning for you to enjoy and digest.
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WHY MILLENNIAL WOMEN BUY
Millennial women have all the power when it comes to not only financial spending decisions but purchasing power as well. After all, millennials represent a major force in terms of buying power, spending $200 billion per year. But if you think you know what these women are spending their money on, you may be surprised. As more women join the workforce and become the primary and sole breadwinners as well as entrepreneurs and side hustlers (40% of those surveyed claimed to have a side hustle), it is their careers that are driving their purchasing decisions.
These part-time jobs or small side businesses create a “dual” identity for many millennials, and brands need to be aware of that. These women want to indulge but they are looking for the best ROI. "Millennial women are a forcing function for innovation, both as consumers and in their careers. They are now both chief earner and chief spender, and it is critical for brands to understand and recognize the role career plays in their consumer habits,” Alisa Leonard, President at Levo, said of the report.
IT'S COOL TO BE KIND: FAMILY OFFICES AND IMPACT INVESTING
For a movement with so many famous disciples, the ‘mainstreaming’ of impact investing comes as little surprise. From Bill and Melinda Gates, to Michael Bloomberg, eBay founder Pierre Omidyar to Irish rock star Bono, well-meaning investors have been joining the cause for the past decade. But how is this high-profile attention affecting a movement that prides itself on grass-roots change? And what roles are family offices playing?
The Global Family Office Report 2017 shows more than a quarter of family offices (28%) report being engaged in impact investing, and two-fifths plan to increase their allocations this coming year, a push largely attributed to ethically-minded millennials moving up through the family ranks.
UNPACKING CORPORATE RESPONSIBILITY AT AMAZON
For tens of millions of consumers, Prime is a gateway to everything from baby wipes to dinner to a quick fix for a misplaced wedding ring. Most shoppers use or have used Amazon, a fact that highlights the retailer’s power as well as its responsibility to be a good corporate citizen. At a time when trust in big business is flagging, the pioneering online retailer has an outsize presence, and any move it makes toward improving corporate responsibility promises to be a seismic shift that would influence all the industries impacted by Amazon’s meteoric growth – from food and electronics to web hosting and media. So what is the state of CR at Amazon?
A CR Magazine review of its practices and strategy finds that Amazon has made significant progress in two major areas: packaging improvements and renewable energy commitments. These are both material issues for the company, a big deal from an environmental perspective, and deserve to be lauded. Amazon’s “frustration-free” packaging is a great example of a sustainability initiative that comes from following the customer’s lead.
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