Social responsibility has been a growing trend in the FMCG market in recent years as manufacturers, suppliers, brands and consumers strive to limit the negative economic, social and political effects caused by their actions. It is increasingly driven by consumers’ desire to live a more ethical lifestyle that they believe benefits their personal wellbeing, says leading data and analytics company, GlobalData.
The company, in its report ‘TrendSights Analysis: Social Responsibility; Understanding the issues and impacts of socially responsible consumption’ has revealed that interest among consumers in products supporting environmental causes is increasing across the globe.
According to the survey, 59% of consumers globally said they would consider buying products associated with environmental protection. Brands or products that support poverty, animal welfare, Fairtrade, or gender equality are also likely to be well received by consumers.
Matthew Perry, Consumer Analyst at GlobalData, says: “While interest in products that support environmental protection appears to extend across all generations, Millennials – those born in 1981-1999 inclusive – are driving interest in products that support poverty, animal welfare, and gender equality.
“Meanwhile, older generations show greater interest in Fairtrade products. Producers should consider the varying interest in ethical causes when initiating such projects and target campaigns accordingly in order to maximize their impact and success.”