Consumer Willingness To Pay More For Sustainable Products, October 2015 [CHART]
During the past month, a few studies have been released examining consumer’s attitudes towards corporate social responsibility (CSR) programs and the effect they have on purchasing behavior. The reports suggest that consumer inclination to pay extra for sustainable products is on the rise, and that CSR programs have a sizable influence on a group that has a certain appeal to marketers: Millennials.
In its latest annual study on this topic, Nielsen reveals that almost two-thirds (66%) of consumers are willing to pay extra for products and services that come from companies who are committed to positive social and environmental impact. That represents a sizable jump from 55% last year and 50% the year before. Read the rest at MarketingCharts.