July 6, 2020 | Read Time: 1 minute
Most consumers expect that corporations will behave in socially responsible ways, but few shoppers are willing to spend extra for products from such companies, according to a new survey.
Forty-six percent of respondents said they expect companies to determine whether a new good or service will affect the environment, and 26 percent said companies should study the impact of a new product or service on their employees, according to the survey. However, only 17 percent said they would pay an extra $15 for a sweater that lists the percentage of employees from diverse populations, the percentage of women in management, and the nonprofits the company supports.
The online survey was conducted June 20 by Cause and Social Influence. The survey had 1,004 respondents, producing a margin of error of plus or minus 3 percentage points.
The release of the survey coincides with publication of a new book by the lead researcher, Derrick Feldmann titled The Corporate Social Mind.
The survey also found that corporations have the power to move people to action. Twenty percent of respondents said they had donated to a charity or cause because a company had made a pitch for them to do so, and 10 percent had volunteered. Corporate prodding caused 33 percent to take action to counter racial discrimination, 33 percent to respond to the Covid-19 pandemic, and 25 percent to take action on animal rights.
The survey also found that consumers thought companies should share their position on:
- Racial equity (57 percent of respondents)
- The environment (48 percent)
- Gun control (36 percent)
