Survey: Majority Willing to Pay More For Socially Conscious Brands

Edelman released their third annual goodpurpose study findings today. The study involved more than 6000 people in 10 countries and revealed consumers’ “rising expectations of brands and companies in the social purpose space.” The highlights:

61% of people have purchased a brand that supports a good cause even if it wasn’t the cheapest brand (56% for U.S.)

83% are willing to change consumption habits if it can help make the world a better place to live (85% for U.S.)

63% are looking to brands and companies to make it easier for them to make a difference (65% for U.S.)

Two out of three people would prefer a hybrid car (67%) to a luxury car (33%)

70% would prefer an eco-friendly house to merely a big house (30%)

Mitch Markson, Chief Creative Officer and President of Brand Consulting at Edelman founded the survey. When asked about its implications, he told PRNewser, “I see it as a real cultural shift, probably somewhat based on everyone being fed up with both the economy and a little bit of the rage people have with big bonuses which certain sectors are being given.”

“People are readjusting what happiness and success really means,” he said. “It may sound ‘Kumbaya,’ but based on three years of this data, there really is a consistency that says something is happening out there.”

Publish date: October 21, 2009 © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT