Built with HELM's proprietary machine-learning analytics, report recognizes buyVerde's vendors' impact across six key values, from clean ingredients to diversity in ownership
BOSTON, March 21, 2023 /PRNewswire-PRWeb/ -- buyVerde, the top online marketplace for social impact products, today releases its inaugural Social Impact Report, powered by HELM, the company bridging the gap between consumer opinion and ESG brand performance. The impact report showcases how buyVerde's growing community of small, mission-driven businesses are creating big change.
The report includes 25 buyVerde brands, and highlights the impact they've made across buyVerde's value categories, which include Clean Ingredients, Diversity, Ethical Production, Giving & Governance, Planet Friendliness, and Point of Origin.
"Consumers want to buy from mission-driven brands, but often have to work too hard or spend too much to find products that align with their values. For too long, they've faced the choice between shopping for convenience or with their conscience," said Briana Hart, Founder and CEO of buyVerde. "Our framework is designed to not only make it Amazon-easy for consumers to shop their values, but also to ensure each dollar spent goes to the impact they choose, because we've done significant work to validate and verify our vendors' impact."
buyVerde Values Framework
buyVerde's mission is to showcase a brand's impact standards at the point of purchase. The company's Standards Board uses a Values Framework with 6 categories so consumers can see how a brand is driving change and clearly understand a self-reported value versus one that has been vetted by an external organization. To validate this framework, buyVerde worked with the University of Virginia's Batten School of Public Policy.
The 2022 Social Impact Report brings research and analytics previously only available to large corporations to small businesses. Using HELM's proprietary machine-learning analytics to uncover the direct links between ESG activities and consumer behavior, buyVerde and HELM have created a new model for helping connect value-aligned brands and consumers' intent.
"It takes significant time and effort to ensure our products are clean, ethical, and planet friendly, so we feel honored to be acknowledged for the good we're bringing to our customers and the world," said Mark Veeder, Co-Founder of Sk*p. "The marketplace buyVerde created was already a huge boost to a brand like mine, helping put us directly in front of the consumers we want to reach; the fact that they've made the kind of market research relied upon by brands like Coca-Cola accessible to a small business like mine is phenomenal. We want brands of that size following our lead to the benefit of our planet and all its people."
2022 Social Impact Report Themes
Based on 5,000 consumer data points, buyVerde found the largest themes that are most important to today's consumer, who ask brands for:
- Clean ingredients and chemical safety: Go beyond what's legally required to assess, manage, and eliminate harmful chemicals from products
- Ethical production and responsible packaging: Ensure ethical supply chain standards, including no animal testing. Use cleaner, more efficient production processes (carbon neutral, alternative energy). Package products with recyclable, non-toxic materials
- Workplace Diversity and Inclusion: Supporting diverse and inclusive workplaces, including employee flexibility
"HELM partnered with buyVerde to democratize access to essential market intelligence linked to the most important stakeholder – the consumer," said Larry Schack, Founder and CEO of HELM. "Our Impact Report shows that there's a serious pent-up demand for shopping your values, and buyVerde breaks down the barriers that stop people from doing that."
Impact Report Methodology
HELM created a list of market themes that offers invaluable insights for small businesses seeking to align their ESG initiatives with the preferences and expectations of their customers. To do so, the company aggregated Environmental, Social, and Governance (ESG) activity and source information from over two dozen companies providing ESG intelligence to businesses, financial service professionals, and brands. This data was then cross-referenced and curated to form a standardized list of more than 200 activities across ESG issues. After thousands of consumers responded to surveys built from that list, Helm employed advanced machine learning analytics to refine a predictive algorithm, generating hundreds of thousands of consumer data points to find what ESG activities and commitments are most influential in shaping consumer opinions and driving purchase behaviors. Bayesian Variable Multiple Clustering (BVMC) was applied to identify themes that capture the main marketplace opinion dimensions, while maintaining cross-validated accuracy to predict brand-supporting consumer beliefs and behaviors.
buyVerde is a top online marketplace for social impact products, making it easy for consumers to search for and find products from small and diverse businesses who care about driving social or environmental change. Its technology solves the two largest barriers facing value-based shopping today: the challenge of finding reliable information on which brands are making an impact in your price-point and the time it takes to find that information. Whether it's household cleaners, baby care, personal care, cruelty free beauty, pet products, or health & wellness goods, consumers can filter by the values they care about most, or by price, and get instant results – all from mission driven brands.
For more information, visit buyVerde.com
HELM is the creation of longtime analysts, brand marketers, PhD data scientists, and who bring the expertise gleaned working with and for Fortune 100 companies (both in-house and as advisors and strategists at organizations like PSB Insights, WPP and more) to bear on how to ensure ESG efforts are effective and ongoing, for the betterment of the Earth and all its inhabitants.
Tisha Ferraro, The Key PR, 7758488231, [email protected]
SOURCE The Key PR