Source: Freepik.com
HOME NEWS RESEARCH SHORT READ

WILLINGNESS TO PAY EXTRA FOR A SOCIALLY RESPONSIBLE BRAND IS GROWING

4. 5. 2022
After declining during the pandemic, willingness to pay extra for a socially responsible brand is on the rise again.

For 44 % of Czechs, social responsibility is important when shopping. Up to 57 % are willing to pay extra for an environmentally friendly product or a product where a portion of sales goes to a socially responsible project. In addition, willingness to pay extra has increased again this spring after a decline during the pandemic. This is according to a regular study by Ipsos, which surveys more than 1,000 respondents online.

The role of social responsibility in purchasing is less important to Czechs than to their neighbours - it is important to 54 % of Slovaks, 62 % of Hungarians and 73 % of Austrians. However, the willingness to pay extra is almost comparable, being only 5 pp higher in neighbouring countries.

Women and younger people are more willing to pay extra. People are willing to pay extra for socially responsible food - 40 % of respondents by a maximum of 5 %, 26 % by 6 to 10 % and 9 % by 11 to 20 %. Willingness to pay extra for daily necessities is almost comparable - 37 % are willing to pay extra by 5 %, 27 % by 6 to 10 % and 10 % by 11 to 20 %. For services, the willingness to change providers because of their social irresponsibility is very low.

CSR must be a relevant topic for companies


According to respondents, companies should most often focus on fair treatment of employees (40 %), sustainable management of natural resources (30 %), support for projects aimed at environmental protection (18 %), development of modern technologies to reduce environmental impact (18 %) or the positive impact of the company's business on the Czech economy (17 %).

At the same time, however, the requirements vary according to what the companies are involved in. For banks and insurance companies, people value truthful communication with customers, for tobacco manufacturers addressing negative impacts on society, and for car companies modern technologies for the environment. The CSR theme should therefore be linked to the core of the business.

Spontaneously, 4 out of 10 Czechs can think of a socially responsible company. The most frequent are Škoda Auto (46 %) and ČEZ (44 %), followed by Lidl and Česká spořitelna (10 % each) and Agrofert (8 %).

It is better to communicate the result than the CSR activity itself


In order to communicate CSR, it is necessary to demonstrate the benefits of the CSR activity to the customer and to communicate it internally, as the importance of CSR for recruitment and retention is increasing over time.

It pays to keep the communication simple, clearly showing the local or national impact. It is better to communicate the result than the activity itself. And at the same time, it is good to maintain visual consistency with the company's other communications. When working with the largest foundations, it is important to be careful about the potential overshadowing of the brand by the foundation's dominant brand.

Of the communication channels, people trust CSR themes most on websites, in TV news or programme coverage, and information they get from friends or family. On the other hand, leaflets, billboards or advertising on the internet are not very trustworthy in this respect.

Source: mediaguru.cz

Loading more ...