In a world of choice, the reasons we purchase one product over another can be driven by a multitude of factors. A recent Nielsen global online survey found that consumers are increasingly willing to pay more for socially responsible products. In fact, 66% of respondents say they’re willing to pay more for products and services that come from companies who are committed to positive social and environmental impact, up from 55% in 2014 and 50% in 2013.
As concerns about the environment and corporate sustainability continue to build momentum around the world, understanding the connection between sentiment and purchasing actions has never been more important. In fact, a 2014 Nielsen retail sales analysis showed that brands with a demonstrated commitment to sustainability grew over 4%, while those without saw less than 1% growth. So what does social and environmental commitment look like to the global consumer, and more specifically what are the most effective ways for companies to resonate with their beliefs? To gain better insight into how consumers show they care, Nielsen polled 30,000 consumers in 60 countries across the globe and asked them to indicate what factors had the most influence on their consumable purchasing habits of products like food, drinks, toiletries and over-the-counter-drugs. The most important factors among those surveyed included a mixture of company expectations and personal benefits, as the top answers were brand trust, natural ingredients and health and wellness benefits.