Roughly two-thirds (64%) of American adults admit to having made purchases from socially responsible companies in the past year, according to an annual survey from Good.Must.Grow.
The survey also indicates that roughly one-quarter (26%) have avoided making a purchase because the company in question was not socially responsible.
The survey also reveals that 6 in 10 feel that it’s important to buy from socially responsible companies and that close to one-third plan to spend more with socially responsible companies in the year ahead. These figures mark a decline from the prior year, but only a very slight one.
While Millennials are typically seen as the consumer segment most drawn to corporate social responsibility (CSR) considerations, the Good.Must.Grow survey points to a different group: women.
Indeed, women were considerably more likely than men to feel it’s important to buy from socially responsible companies (67% vs. 52%) and to report having done so in the prior year (69% vs. 59%). Likewise, a greater percentage planned to spend more with such companies in the coming year (34% vs. 26%).
But do consumers actually follow through with such plans? The survey results suggest that most do, but certainly not all: 60% of those who planned to spend more responsibly in 2015 achieved that goal, down from close to three-quarters in the 2 years prior.
Cost is proving to be one of the bigger hindrances to spending on socially responsible goods, cited by 40% of respondents.
As for the most socially responsible brands? When consumers were asked to name one company or organization that is socially responsible, TOMS emerged as the brand top-of-mind for the largest number of respondents, followed by Red Cross, Starbucks, Goodwill and Microsoft.
SOURCE: Good.Must.Grow., 4018 Marion Spring Hill, TN 37174