Global uptick in consumer willingness to back ethical brands
The number of consumers willing to pay more for goods and services from ethical companies is on the rise globally, according to a new survey by market research organisation Nielsen.
The Nielsen Global Survey on Corporate Social Responsibility surveyed more than 29,000 internet respondents in 58 countries. The percentage of consumers willing to pay more increased among both males and females and across all age groups, with respondents under age 30 most likely to say they would spend more for goods and services from companies that give back. Among consumers ages 40-44, 50% agree they would pay more, up from 38% two years ago.
“While cause-marketing programs seem to resonate most strongly among younger respondents, the rapid change in sentiment among middle-aged consumers expands the cause opportunity for brands,” said Nic Covey, vice president of corporate social responsibility at Nielsen. “Today, brands can confidently focus purpose messaging on both younger and older consumers.”
Read the full story in the September issue of Ethical Performance.