Giving back to society grows in importance
as a global business strategy and consumers of all ages care about it more than
they did just two years ago.
That is the finding of the latest
report from Nielsen Holdings N.V. on “The Global, Socially-Conscious Consumer.”
(Download full report here.) When Nielsen first undertook the research
in 2011, 45% of respondents agreed they are willing to pay more for goods and
services from socially responsible companies.This year, the percentage jumped to 50%. The most dramatic increase was seen among 40 to 44 year olds, who went from 38% in 2011 to 50% in 2013. Those in the 50-to-54-year-old bracket are also catching up to their younger peers, with 48% now saying they’d pay more vs. 37% in 2011.
“Today, the question is not whether
consumers care about social impact, but which ones, how much and how to appeal
to them,” said Nic Covey, vice president of corporate social responsibility at
Nielsen. “The answer isn’t necessarily a traditional cause-marketing campaign –
general responsibility, sustainable innovation and purpose messaging might also
engage these consumers. No matter the approach, savvy brands are figuring out
how to hit this nerve.”
