Vrity Launches Brand Values-Based Index

In the US, brand measurement specialist Vrity has launched a service called Values Return Index (VRI), connecting purchase propensity to brand sentiment across twenty values-based categories such as sustainability, equality, innovation and affordability.

According to new data from Vrity and Toluna, brand values have increasingly become determining factors for customers choosing between comparable products or services. Feedback from the survey showed that 82% of consumers would pay a premium to choose a brand that supports a cause important to them, and 43% said they would pay twice as much to support that brand.

Vrity's new VRI uses artificial intelligence to interpret a combination of consumer surveys, social media and web site data. This then delivers an 'up-to-the-minute' assessment of a brand's 'values equity' - the financial impact of its values on purchase propensity.

Jesse Wolfersberger (pictured), co-founder and CEO of Vrity, comments: 'Today's consumer no longer makes purchase decisions based on price and product alone, they also want to support brands that share their personal values. The VRI is an essential tool for brands to measure if their values are resonating with today's values-oriented customers and driving real financial impact'.

Web site: www.vrity.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.