Consumers prefer socially responsible brands, says study
Consumers prefer socially responsible companies and do not mind paying a premium for their purchase because of these organisations' commitment to the community, says a study.According to a global study by Zendesk that explores how consumers feel about businesses that are invested in social, labour and sustainability issues, consumers prefer to purchase from businesses that demonstrate community responsibility. The research found that globally more than 77 per cent of consumers prefer to purchase from these companies, and are also willing to pay 5-10 per cent more because of their commitment to the community. In addition, 74 per cent of these consumers - deemed 'Social Activators' also put in a kind word for common good companies on social media and review site, the study titled 'Conscious Consumer Survey' noted.
Commenting on the study, KT Prasad, Country Sales Director, Zendesk, India, said, "Brands in India have long since understood the importance of maintaining a socially responsible image as a company in order to sustain in the ever cluttered and competitive marketplace." Prasad said that the study proves that consumers today are not only paying more to companies that contribute to the common good but are also invariably encouraging others to embrace their purchasing preferences.
"In the survey, consumers reported how frequently they leave business recommendations on several key websites, including Facebook, Twitter, and Amazon in favour of their preferred brands," Prasad said. This analysis is based on a multinational survey of 7,010 individuals, with an average of 1,000 consumer respondents in each of the following geographic regions: Australia, Brazil, France, Germany, Mexico, the UK, and US/Canada.