Seven out of 10 of surveyed Filipino consumers are willing to pay more for goods and services from companies that have implemented programs to give back to society, an increase of three points from 2011, according to a new study from Nielsen, a leading global provider of information and insights into what consumers watch and buy.
In the Nielsen Global Survey on Corporate Social Responsibility in which more than 29,000 Internet respondents were surveyed in 58 countries, 75 percent of surveyed consumers from India showed the strongest willingness to spend more for goods and services from socially-responsible companies. Consumers from the Philippines’ neighboring countries in Southeast Asia, Thailand and Indonesia likewise indicated strong willingness.
“The positive view of Filipino consumers towards corporate social responsibility runs high. In order to continue getting the support of consumers, authenticity is key. Companies should ensure that their social impact programs remain true to the company’s vision, values and business objectives,” says Stuart Jamieson, managing director of Nielsen Philippines.
Consumers’ Willingness to Pay Versus What They Actually Pay
Nielsen’s information reveals that consumers in Southeast Asia are most likely to say they had spent more on products and services from socially-responsible companies (Thailand, 66 percent; the Philippines, 64 percent; Indonesia, 56 percent).
“Companies can do more to connect with consumers through social projects. To have a stronger engagement with consumers, companies should re-access responsibility, work towards sustainable innovation and develop clear and strong messaging,” Jamieson recommends.