Canadians willing to back socially responsible companies, says study

June 22, 2014, Canada – According to an international
study, Canadians are willing to put their money
where their mouths are when it comes to supporting socially responsible
companies.

June 22, 2014, Canada – According to an international
study, Canadians are willing to put their money
where their mouths are when it comes to supporting socially responsible
companies.

Forty-four per cent of Canadians surveyed said they had purchased a
product or service because they knew that the company is committed to
positive social and environmental impact.

Forty-one per cent of Canadians surveyed said they strongly agree
or somewhat agree with this statement: “I am willing to pay extra for
products and services that come from companies who are committed to
positive social and environmental impact.”

The results suggest the cause in question seems
to be the biggest issue in Canada. Fifty-three per cent of Canadians are
“extremely concerned” about buying from companies that help provide
access to clean water. Fifty per cent of Canadians are “extremely
concerned” about buying from companies working to eradicate poverty and
hunger. Forty-nine per cent of Canadians are “extremely concerned” about
buying from companies that try to combat diseases such as cancers,
diabetes
and lung diseases.

The study suggests consumers pay attention to labels. Companies that
included sustainability claims on their packaging experienced a two per cent
average sales increase versus the one per cent rise experienced by companies without
any marketing or packaging claims.

Companies that promote sustainability through marketing experienced a five per cent average sales jump.

“It’s no longer a question if consumers care
about social impact. Consumers do care and show they do through their
actions. Now the focus
is on determining
how your brand can effectively create shared value by marrying the
appropriate social cause and consumer segments, ” said Amy
Fenton, global leader of public development and sustainability for
Nielsen,
said in a media statement.