How Giving Back Affects Pricing Perception
Guest blog by Melissa Hollis
It’s not always easy to figure out what consumers want. Case in point: the same markets that recently pushed Harry Potter-branded chocolate to go fair trade also pressured natural and organic retailers such as Whole Foods to lower their prices. Pulled between their sometimes-conflicting responsibilities to a sustainable earth and sustainable business, brands face a critical question:
How much more are consumers willing to pay for a product that supports a good cause, as opposed to one that doesn’t?
This inquiry is at the heart of a new research study by our friends at Software Advice. Entitled “Key Priorities for Ethical Supply Chains,” the report assesses the value of cause-centric decision-making from the perspectives of both companies and consumers. It also uncovers the most convincing ethical initiatives as well as a breakdown of top performing acts of community involvement.