According to , new research from Mintel, one of the world’s leading market intelligence agencies, which analyzes consumers, markets, new products and competitive landscapes a company’s charitable giving affects three-quarters (73%) of Americans’ purchase decisions.
In their 2018 US Cause Marketing Market Report the majority (84%) of consumers say it is important to them that a company supports charitable causes. Half (50%) of Americans say that they would switch to a company that supports a cause they believe in, rising to 61% of adult iGeneration consumers (aged 18-23) and Millennials (aged 24-41), respectively.
According to the report, nearly two-thirds believe it is a company’s responsibility to give back (65%) and to have a moral or ethical viewpoint (64%), while around half expect brands to improve the local community (53%) and donate proceeds to charity (49%). When it comes to the environment, although fewer than one in five (16%) Americans say they have donated to environmental causes in the last year*, three in five (59%) expect companies to have environmentally friendly initiatives.
97% of consumers agree it’s important that companies act morally/ethically, up from 76% in 2012.
62% of adult iGens say products from socially responsible companies are worth paying more for.
America’s youngest consumers are putting their money where their morals are when it comes to supporting charitable brands. In fact, adult iGens are the most likely generation to say that they often or always make purchases based off a brand’s reputation for ethical business practices (59% vs 46% overall). In addition to impacting their purchasing decisions, 62% of adult iGens go so far as to say that a product from a socially responsible company is worth paying more for, compared to 51% of consumers overall.
