The rise of the TODAY: THE RISE FUTURE STATE: conscious consumer OF CONSCIOUS AFFORDABLE AND CONSUMPTION ATTAINABLE CONSCIOUS CONSUMPTION I like to call this new system creative At the 2008 World Economic Forum in Davos, 69% of high- The story of the conscious consumer would not be complete capitalism—an approach where govern- net-worth ments, businesses, and nonprofits work Switzerland, Bill Gates introduced the concept millennials if income inequality were not part of the conversation. together to stretch the reach of market place greater forces so that more people can make a of “Creative Capitalism.” The concept outlined a importance It’s arguably easy to be a conscious consumer when one’s profit, or gain recognition, doing work in investing (23) that eases the world’s inequities. new approach to capitalism where incentives go in companies discretionary income unlocks access to products and services showing a high ―Bill Gates, 2008 beyond profits and include recognition as a proxy level of corpo- that enable a sustainable lifestyle. For example, consumers rate social re- for profits. sponsibility than with access to investment portfolios are able to diversify their considering the wider society, investments based on their ESG interests. Yet many citizens compared to 59% in 2017.(24) Since 2008, numerous groups and organizations the world over don’t have the financial buying power to make ―US Trust have been involved in developing alternatives 2015 their voices heard through their purchase decisions. People to the current economic system. “Creative who struggle to provide food for their families don’t have the capitalism” and “circular economy” thinking has luxury of diversifying their brand selections in the checkout enabled consumers to move beyond just being line, when sustainable products are out of their budget. environmentally-minded, to being values driven consumers who are demanding entirely new approaches to business and the economy as a whole. 34 35