Consumers to Spend More with Socially Responsible Companies in 2015 - The Minute

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Consumers to Spend More with Socially Responsible Companies in 2015 - The Minute

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Thursday, April 16, 2015 - 4:00pm

CAMPAIGN: The CSR Minute

CONTENT: Multimedia with summary

Thirty-two percent of U.S. consumers plan to spend more with socially responsible companies this year. That’s the key finding of the third annual Conscious Consumer Spending Index, a yearly survey compiled by Good. Must. Grow., a marketing agency. That number marks a small but steady increase in the survey’s reporting, up from 30 percent in 2014 and 29 percent in 2013. The 2015 Index also finds that 64 percent of shoppers said it was important to buy products and services from a socially responsible company. That’s a four percent rise from 2013.

But there’s a hitch in this progressive news: the new data shows that of those consumers in 2014 who were to increase their spending with socially responsible businesses, only 73 percent did so. In 2013, 76 percent reported that they followed through on their plans. Good. Must. Grow. explains this decrease in action by observing that 46 percent of shoppers said they did not know where to find socially responsible products and services. In short, there’s a communications gap in messaging to the buying public. One survey footnote: the identifying term most likely to influence a conscious consumer’s buying decision is “local.”

I’m John Howell for 3BL Media.

Video source: Consumers to Spend More with Socially Responsible Companies in 2015

Keywords: 3bl media llc | Sustainable Finance & Socially Responsible Investment | Business Surveys | CSR Minute | Research, Reports & Publications | Responsible Business & Employee Engagement | conscious consumer spending index | consumer spending | good.must.grow

CAMPAIGN: The CSR Minute

CONTENT: Multimedia with summary