corporate responsibility
Posted by Suzanne Blecher on March 30, 2010 01:42 PM
More than 75 percent of consumers say that corporate responsibility is important, according to the 2010 Corporate Social Responsibility (CSR) Perception study by research firm Penn Schoen Berland. Just don’t ask those people to define what CSR means. Only 45 percent were sure.
The study also found that 55 percent of those polled found that social responsibility is a differentiator among brands and were more likely to choose a product tied to a certain cause when all other factors (price, size) were similar. And bonus points if your company puts CSR claims on your website. 75 percent of respondents say they are more likely to buy from a website with a cause, yet just 13 percent of that group has actually done so.
CSR is a tricky proposition. It’s a perception game and looks good to investors, but consumers are rarely willing to spend more for an eco-friendly product when comes to cash-register ringing time. Saks Fifth Avenue has all-but disabled the clothing portion of its Green House, a home to eco-smart style that launched in 2008. The Banana Republic Heritage line that was launched as an eco-friendly initiative a year ago has evolved into a collection tied to timeless designs, authentic details and luxurious fabrics, many of which are not sustainable. People just aren’t buying “green” apparel.
In the CSR study, respondents found a sustainability message to be most important in energy, healthcare, automotive, financial services and media; yet determined all had performed poorly in communicating social responsibility efforts. Respondents found sustainability messaging in food and consumer goods to be much more effective.
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