If you knew purchasing certain products and services helped save the planet, would you pay more for them?
According to a recent report from Nielsen, most of the world's consumers would. A global average of 55% of respondents in Nielsen's corporate social responsibility survey said they were willing to pay extra when companies are committed to positive social and environmental impact.
Respondents in the Asian-Pacific region were most willing to pay more for products with social-good benefits, surpassing the global average at 64% (up from 55% in 2011). European respondents seemed the least willing, at 40% (though, that figure still indicates an 8% increase from 2011).
While many companies' dedication to social responsibility and sustainability are genuine, consumers should always take "greenwashing" (or "causewashing") into account -- that is, when a company markets itself as charitable, only to draw in customers.
For example, if a clothing company gives proceeds toward an environmental cause, but uses harmful chemicals during manufacturing, or doesn't pay its workers a living wage, those proceeds don't make as much of a positive impact as you might think. A little research goes a long way.
The following chart, created by statistics portal Statista, shows the percent of survey respondents across five regions who are willing to pay extra for socially responsible companies' goods.
