Beyond the niche: bringing ethical financial products to your high street
New research from Ashridge, sponsored by Co-operative Financial Services and supported by Forum for the Future explores the UK consumer market for ethical financial products. Focussing on the products most of us buy: bank accounts, mortgages, home and motor insurance, personal loans, personal pensions and credit cards, the research explores consumers’ attitudes to ethical financial products and examines what mainstream ethical financial products might look like.
The research adds to the growing body of evidence describing the attractiveness to the UK public of buying products with ethics built-in. However, it shows that ethical consumerism in the UK is about much more than just ethics, even for those products marketed primarily on their ethical credentials. Reasons of convenience, value for money, provenance, health and many aspects of quality all featured as differentiators, strongly suggesting that ethical financial products will need to be as available, convenient and attractive in all other aspects as the alternatives if they are to take advantage of the groundswell of consumer goodwill they currently enjoy.
Faruk, A. (2007) Beyond the niche: bringing ethical financial products to your high street, Ashridge and Forum for the Future