Consumers increasingly want to shop with their values in mind. Circle Squared aims to disrupt the market with its forthcoming app that provides ethical company ratings to assist purchase decisions. Data on consumer behaviour will be fed back, encouraging business to do more to help change the world.
74% of consumers say more information on companies’ social and ethical performance would influence their purchasing decisions, but this information can be difficult to find in an accessible format.
Companies are spending more time and money on Corporate Social Responsibility (CSR) but with little feedback, it is difficult to quantify the effects.
It may not matter that an individual did or didn't buy a product based on a company's ethical performance; but when millions of people voice their values through our forthcoming app, we believe it will encourage businesses to do more.
We plan to employ a 3-fold business model:
Affiliate marketing to display ethical alternatives to consumers and charge a % on sales. (UK ethical goods market £22bn)
Use a mini-game to help crowdsource data and provide revenue from in-app purchases. (Market $37bn)
Selling data to companies, helping them plan future CSR. (Market $500m)
We'll also build a pop-up function for online shoppers.
Our tests on an early model showed: 87% want the app; 80% want ethical alternatives; 70% want the environmental game.
We believe Circle Squared is uniquely placed as it combines CSR data with consumer insight. With 2000+ followers across social media, investment will be used to build the app as we seek to capitalise on our growing traction. Once launched we'll deploy a science-based targeting strategy to acquire users effectively