Do you care if the companies you buy from are socially responsible?
Do consumers care if the companies they buy products and services from are socially responsible? Very definitely, according to various surveys from Neilson. And those in the developing world seem to care just that much more
Consumers in Asia Pacific (55%), the Middle East and Africa (53%) and Latin America (49%) are more willing to pay extra for products and services from socially-responsible companies than consumers in North America (35%) and Europe (32%).
The research shows that, more than ever, consumers expect more from the businesses where they shop. And their motives for buying such products are primarily altruistic, with most reporting that they view their purchases as a way to help improve society or reduce environmental damage.
Sixty-three percent of these "socially-conscious consumers" are under age 40, and regularly consult social media about making purchase decisions and their priority causes are environment, education and hunger.