Based on the findings of relevant surveys, the Chartered Institute of Marketing (CIM) identified a number of key behaviour patterns in millennial consumers (18- to 34-year-olds) regarding Corporate Social Responsibility (CSR):

• 81% of millennials would like companies to publicly commit to CSR values

• 92% of millennials would choose to buy from a company committed to ethical business practices

• 64% of millennial females bought, in the past year, a cause-related product

• 82% of millennials would strive to be employed by a company recognized for its commitment to business ethics

• More than 9 out of 10 millennials would change brands to a cause-related one

• 73% of millennials would pay extra for sustainable offerings – a significant increase from 50% in 2014

Moreover, according to the surveys, millennials would:

• buy environmentally or socially beneficial products
• offer voluntary support for a cause promoted by a trusted company
• express their views to a company regarding its CSR programs
• mention to their friends and family a company’s CSR initiatives

References:

This article was compiled using a publication by the Chartered Institute of Marketing. For the sake of readability, we did not use brackets or ellipses but made sure that the extra or missing words did not change the publication’s meaning. If you would like to quote these written sources from the original please revert to the links below:

https://exchange.cim.co.uk/infographic/millennials-love-csr/?utm_source=Exchange%20newsletter&utm_campaign=Exchange%20newsletter&utm_medium=Email&_cldee=c2ltb25AZmJyaC5ldQ%3d%3d&recipientid=contact-45545ffae8f4e4118103c4346bad1218-c1c53dcf21664731945075fba1549b47&esid=6f74b51b-5aaa-e611-80ef-5065f38bc591&urlid=2

https://www.philanthropy.com/items/biz/pdf/AflacCorporateSocialResponsibility.pdf

http://www.conecomm.com/research-blog/2015-cone-communications-millennial-csr-study

http://www.nielsen.com/us/en/insights/reports/2015/the-sustainability-imperative.html

The post Chartered Institute of Marketing (UK): Millennials love CSR appeared first on SustainCase - Sustainability Magazine.

According to the 2015 Cone Communications Millennial CSR Study, based on the findings of a survey among 1,003 18- to 34-year-olds, Millennials show strong support, in a number of ways, for Corporate Social Responsibility (CSR) efforts by companies. More specifically:

• 91% of Millennials would change brands to a cause-related one  Tweet This! (of comparable quality and price)

• 87% of Millennials would buy environmentally or socially beneficial products and 59% bought such a product in the past year

• 88% of Millennials would stop buying products from a company with bad business practices

• When deciding what to buy or where to go shopping, 81% of Millennials take into account a company’s social and environmental initiatives

• 70% of Millennials would pay more for sustainable products

• A company supporting a social or environmental cause would be seen more positively by 93% of Millennials

• For 86% of Millennials companies should not just make profits but tackle social and environmental issues

• 81% and 82% of Millennials, respectively, would like companies to report on their progress in their CSR efforts and generate and communicate outcomes

References:

This article was compiled using a study by Cone Communications. For the sake of readability, we did not use brackets or ellipses but made sure that the extra or missing words did not change the study’s meaning. If you would like to quote these written sources from the original please revert to the link below:

http://www.conecomm.com/research-blog/2015-cone-communications-millennial-csr-study

The post Cone Communications research: Millennials embrace CSR appeared first on SustainCase - Sustainability Magazine.