Three-Fourths of U.S. Consumers Reward, Punish Brands Based on Corporate Behavior.
These times of economic slowdown, have historicall been the times for innovation and for change. For most companies to change, a real sense of urgence is required... But today is different from other times... today the consumers are becoming more and more aware of the difference they can make... and they wish to reward good companies and they will punish bad and unethical brands... The World of Tomorrow, today.
June 3, 2009 - America’s consumers are rewarding brands that align with their values, punishing those that don’t, and using social media to spread the word about corporate practices with peers, according to a new study.
The study, 2009 BBMG Conscious Consumer Report: Redefining Value in a New Economy by BBMG, finds that 77% of respondents say they “can make a positive difference by purchasing products from socially or environmentally responsible companies.” Nearly equal to that, 72% also say they have “avoided purchasing products from companies whose practices I disagree with,” signaling significant consumer risks and rewards based on corporate behavior.
As important, company behavior is actively driving people to talk about it - online and offline. More than half of consumers (55%) say they “often encourage others to buy from companies that are socially and environmentally responsible,” and nearly half (48%) say they’ve “told other people to stop buying products from companies whose practices I disagree with.” One-in-four consumers (28%) say they “often post reviews and recommendations of products and companies on blogs, message boards and social networking sites.”
“Consumers are craving brands that deliver both value and values,” says Raphael Bemporad, co-founder of BBMG. “More than ever, consumers are rewarding companies that deliver more holistic brand benefits and punishing those that don’t.”
Additional highlights from the report include:
• Consumer interest in green products still holds despite tough economic times
• Price and Performance still most important purchasing decision making factors, but sustainability factors are gaining
• Wal-Mart tops the list of the most and least socially responsible companies
