Survey: More people spending on ‘cause’ brands
New York City Findings released Wednesday from a survey examining the importance of brands that have a social purpose revealed that despite the recession, an increasing number of people are spending on cause-related products even if they’re more expensive.
According to the 2009 Global Edelman Goodpurpose consumer study, 61% of respondents have purchased a brand that supports a good cause even if it wasn't the cheapest brand; 83% said they would be willing to change consumption habits if it would help make the world a better place to live.
The study, which surveyed 6,000 people in 10 countries, revealed that during this recession, 57% globally say a company or brand has earned their business because it has been doing its part to support good causes (with Asian countries coming in highest; China at 85% and India at 84%).
Two out of three (67%) globally say they would switch brands if another brand of similar quality supported a good cause.
"People all over the world are now wearing, driving, eating, and living their social purpose as sustained engagement with good causes becomes a new criterion for social status and good social behavior," said Mitch Markson, Edelman's chief creative officer, president of its brand consulting group and founder of goodpurpose. "This gives companies and brands associated with a worthy cause an opportunity to build long-term relationships with consumers that, in turn, allow them to feel valuable within their communities."