Market Research Survey Shows Global Consumers Increasingly Willing to Pay Extra for Socially-Responsible Goods
13th August 2013 10:53 - Retail
Nielsen, a global insights firm, recently published market research findings which show - half (50%) of global consumers are willing to pay more for goods and services from companies that have implemented programmes to give back to society, up from under half (45%) in 2011.
In the UK, a third (32%) of respondents said they would be willing to pay more for goods and services from companies which “give back”. While up from a quarter (27%) in 2011, this is still well below the global (50%) and European (36%) averages.
This contrasts with many Asian countries where, according to the survey, more than two thirds of respondents in the Philippines, Thailand and Indonesia – and three quarters of respondents in India – said they would be happy to pay more for socially responsible goods and services.
Nic Covey, Vice President of Corporate Social Responsibility at Nielsen, said:
“Today, the question is not whether consumers care about social impact – they do – but about which programmes, by how much, and then how do you appeal to them. The answer isn’t necessarily a traditional cause-marketing campaign. General responsibility, sustainable innovation and purpose messaging might also engage these consumers. No matter the approach, savvy brands are figuring out how to hit this nerve.”
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