Only three percent is opposed to doing business with retailers that hold to Christian principles
In an age where retailers routinely target niche audiences to increase market share, one overlooked subset of the broader market of self-identified Christians is worth the attention of retailers: Faith Driven Consumers.
Comprised of 41 million Americans, this newly qualified and quantified consumer group spends $2 trillion annually and is actively looking for brands that are compatible with their values and worldview.
While some retailers in recent years have overlooked this large and rapidly solidifying target market of one-in-seven consumers, research shows that any potential negatives associated with openly pursuing Faith Driven Consumers as a lucrative market are far outweighed by the benefits.
Specifically, a study conducted by the Barna Group clearly shows that Christian beliefs greatly influence consumer buying decisions, 97 percent of American consumers either support or are indifferent to brands that hold Christian principles. Only three percent of the population is opposed to doing business with retailers that hold to Christian principles.
More than two out of five adults (43 percent) said they were more likely to support “a company that manages its business according to Christian principles.” A slight majority (51 percent) of respondents indicated they were indifferent to whether or not a particular retailer managed its business based on Christian principles.
In a nutshell, we see that the Christian faith matters to a significant percentage of Americans and that there is a trend toward consumers favoring businesses managed on Christian principles. The fact that only three percent of the population is opposed – with only one percent being strongly opposed – reinforces this conclusion.
While the concept of marketing to specific groups is not new, many retailers have failed to target Christians either because they saw them as a national majority or because they feared the potential for controversy created by such an affiliation.
And although media sources routinely express hostility and cynicism toward Christianity, the Barna study shows that retailers would be wise to pursue this powerful and newly-franchised niche market.
Is your retail brand ready to embrace the diversity represented by those who hold to Christian values in their daily purchasing decisions? How can your brand NOT afford to pursue the 43 percent of American consumers who desire to see Christianity reflected in the marketplace?