Consumers willing to pay more for socially responsible brands
Over 50% of global online consumers across 60 countries say they are willing to pay more for products and services provided by companies that are committed to positive social and environmental impact, according to a new study by Nielsen.
The propensity to buy socially responsible brands is strongest in Asia-Pacific (64%), Latin America (63%) and Middle East/Africa (63%). The numbers for North America and Europe are 42% and 40%, respectively.
“Consumers around the world are saying loud and clear that a brand’s social purpose is among the factors that influence purchase decisions,” said Amy Fenton, global leader of public development and sustainability, Nielsen. “This behaviour is on the rise and it provides opportunities for meaningful impact in our communities, in addition to helping to grow share for brands.”
The Nielsen Global Survey on Corporate Social Responsibility polled 30,000 consumers in 60 countries to understand: how passionate consumers are about sustainable practices when it comes to purchase considerations; which consumer segments are most supportive of ecological or other socially responsible efforts; and which social issues/causes are attracting the most concern.
For full details see the July issue of Ethical Performance