Across the world, people are willing to pay extra for products and services that they believe come from companies committed to making positive social and environmental change.
The Nielsen Global Survey on Corporate Social Responsibility, a survey of 30,000 people in 60 countries, found that 55% of respondents are willing to shell out more money for socially responsible products–but the numbers vary depending on the region. In Asia-Pacific, 64% of consumers are willing to pay more. The numbers are similar in Latin America and the Middle East/Africa, but in North America, the percentage drops to 42%. Just 40% of Europeans report that they would pay extra.
Asia-Pacific respondents are also more likely to consider purchase decisions based on packaging (specifically, whether a brand says that’s socially and environmentally responsible). Again, Europeans and North Americans are least likely to do this.
Millennials are most likely to pay extra, check product packaging, and work for companies that they perceive to be sustainable, according to the survey.
Respondents to the survey say they care about some causes more than others–and they’re willing to pay extra to support these pet causes. The top “causes of extreme concern” that people will pay more to support are increasing access to clean water, followed by improving access to sanitation, and ensuring environmental sustainability.
The Nielsen survey doesn’t delve into the accuracy of the sustainability claims made by different companies. We can only guess that for most people, claims of social responsibility are good enough, even if there aren’t real actions behind them.AS