Chapter 8: Ethics & impact
Consumers want retailers to demonstrate social purpose
Against a backdrop of global events, an increased awareness of ethics and supply chains, and the rise of climate concerns, consumers are waking up to their responsibilities. A recent survey by PwC found that “consumers are willing to pay a 9.7% sustainability premium, even as cost-of-living and inflationary concerns weigh.” Our research also confirms that consumers are eager to give back and expect businesses to do so as well.
Finding 01
Consumers care, but will they pay?
Consumers are actively looking to support causes they care about. They give to charity, and many have already used round-up features to donate at checkout. They’re prepared to favor retailers that can demonstrate ethical sourcing, but they’re not necessarily willing to pay more for it.
Finding 02
Retailers are slow to respond, but tech can help
Businesses are beginning to embrace their role as catalysts of change. But, compared to consumer expectations, progress is slow. Only a quarter plan to meet consumer expectations by investing in social impact. And uptake of technology to enable donations at checkout is still relatively low. One area we’ve seen a marked improvement year on year, however, is a commitment to decarbonization.
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