Do you prefer to buy products and services from companies that implement programs that give back to society? This was the question Nielsen asked of 28,000 online respondents last March from 56 countries worldwide. And here’s what it discovered:
- 66% of consumers around the world say they prefer to buy products and services from companies that have implemented programs to give back to society
- 62% prefer to work for these companies
- 59% invest in these companies
- 46% say they are willing to pay extra for products and services from these companies
So, who are these socially conscious consumers? Mostly the younger generation: 63% are under the age of 40; 51% of all respondents aged 15 to 39 are willing to pay extra for such products and services.
And, the most socially conscious country? The Philippines where 68% of respondents said they were willing to pay extra for products and services from companies that had implemented programs to give back to society.
And the least? The Netherlands, where 20% of respondents indicated their willingness to pay extra for these products and services.
The survey results also indicated that socially-conscious consumers care most about environmental sustainability, followed by improvements to science, technology and math education and eradicating extreme poverty and hunger.
So, the big question is… are YOU a socially conscious consumer? What’s your socially conscious consumer IQ?
Now, there’s a short online quiz from McKinsey & Company that can help you answer this question. Take it and find out.