Where Consumers Will Pay More for Products from Socially-Conscious Companies

The story must be more complicated here. Obviously there is a cynicism that CSR in the West means more corporate profits, but honestly I was surprised that Asia led the way with their apparent willingness to pay more…. or were people being polite?

Evans on Marketing

A good measure of a consumer’s interest in the social responsibility of companies is whether or not a consumer would be willing to pay more to buy the products of such firms.

Nielsen recently did a global study on this topic; and the results might surprise you: “In Nielsen’s latest Global Survey on Corporate Social Responsibility of 29,000 Internet respondents in 58 countries, the density of respondents willing to spend more on products and services from companies that give back varies considerably across the 58 countries Nielsen examined. Broadly speaking, European respondents were less likely to pay more for goods and services from companies that give back—just 36 percent of consumers in the region said they would do so. Meanwhile in the Philippines, Thailand and Indonesia, more than two-thirds of respondents said they’d pay extra. In India, three-quarters of respondents agreed that they would do so.”

Click the chart below…

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