CSR often takes a backseat to other organisational goals and functions, such as sales and marketing. Would you be surprised to hear that corporate social responsibility has become crucial to consumers? Today, the average consumer actually DOES look at a company’s CSR model as they believe it reflects the values of the company.

Source: nielsen.com

HOW MUCH DO THEY CARE?

Not only do consumers care, but they are prepared to PAY MORE for products that support environmental, economic or social justice. According to tec.com.au (2013), CSR increases customer loyalty as well as sales with 76% of Australians saying that corporate social responsibility was an important factor when it comes to making a purchase decision.

The image below geographically segments consumers’ willingness to pay more for products and services due to companies’ commitment to positive social and environmental impact.

Image source: nielsen.com

WHAT DOES THIS MEAN FOR BUSINESS?

The majority of consumers today have measurable expectations of businesses and their products/services. They respect companies dedicated to positive social, economic and environmental change. According to Business Review Australia, CSR plays a major role in attracting new and young talent, with 70% of young elites (18-34) more likely to work for a company with an attractive or successful CSR model.

Image source: nielsen.com

WHAT ARE THE EXPECTATIONS?

Consumers and CSR workers surveyed by the Australian Centre for Corporate Social Responsibility (Annual Review of the State of CSR in Australia and New Zealand 2014) claimed to expect more leadership from governments, business and education. Respondents also noted that progress has been too slow in Australia – excelling in stakeholder engagement and struggling with being accountable.

Good360 provides an accessible, effective and measurable platform for Australian corporates to vastly improve their corporate social responsibility. Not only can companies save money by avoiding the enormous landfill, storage and environmental costs associated with excess inventory – but Good360 can connect the goods directly to the social causes that need them most.

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