Ethical brands are no longer a way of the future, they are the way of NOW. According to 2014 research conducted by Nielson, global consumers are willing to put their money where their heart is.
This is great news for all of you Ethipreneurs! By sharing this research, we hope it serves as both reassurance and motivation to keep doing what you’re doing!
Here are some of the interesting key findings direct from Nielson:
- People will pay more
Fifty-five percent 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.
- Social purpose influence’s consumer’s buying decisions
Amy Fenton, global leader of public development and sustainability from Nielsen says of the findings, “Consumers around the world are saying loud and clear that a brand’s social purpose is among the factors that influence purchase decisions. 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.”
She added, “It’s no longer a question if consumers care about social impact. Consumers do care and show they do through their actions. Now the focus is on determining how your brand can effectively create shared value by marrying the appropriate social cause and consumer segments.”
- Packaging and labelling is important
A huge 52% of global respondents say their purchasing decisions are partly dependent on the packaging. They check the labelling first to ensure the brand is committed to positive social and environmental impact.
- Consumers want to minimise their impact on global climate change
The findings are: “Two-thirds of the “sustainable mainstream” population will choose products from sustainable sources over other conventional products. These consumers will buy as many eco-friendly products as they can and have personally changed their behaviour to minimise their impact on global climate change. Additionally, these consumers are more likely to buy products repeatedly from a company if they know the company is mindful of its impact on the environment and society.”
Ethipreneurs, keep doing what you’re doing! Consumers love socially responsible businesses, and the environment and its animal inhabitants appreciate it too!
Why do people love your socially responsible business?