Consumers admire responsible brands
Consumers admire responsible brands
Vietnamese consumers are the most socially conscious in Southeast Asia, according to the 2015 Nielsen Global Corporate Sustainability Report released last week.
Consumers in Southeast Asia are the most willing globally to pay more for sustainable products and services, surpassing other regions around the world, including Middle East/Africa, Latin America, Europe and North America, the survey found.
The 2015 Nielsen Global Corporate Sustainability Report released on October13 shows eight in 10 consumers in Southeast Asia (80 per cent) prefer to buy socially responsible brands, compared to Middle East/Africa (75 per cent) and Latin America (71 per cent), Europe (51 per cent) and North America (44 per cent).
Among Southeast Asians, Vietnamese and Filipino consumers are the most socially-conscious, with 86 per cent of respondents from Viet Nam and 83 per cent from the Philippines stating their willingness to pay extra for products and services from companies committed to positive social and environmental impact (up 12 points and 4 points, respectively).
To gain better insight into the factors that influence consumer sentiment and purchase behavior, Nielsen polled 30,000 consumers in 60 countries across the globe. Consumers were asked how much influence factors such as the environment, packaging, price, marketing and organic or health and wellness claims had on their consumer-goods purchase decisions.
"Nowadays, you will be hard-pressed to find consumers who do not show concern for environmental and societal issues," Connie Cheng, head of Shopper Insights for Nielsen in Southeast Asia, North Asia and Pacific said. "In small and big ways, consumers are trying to be responsible citizens of the world, and they expect the same from corporations. Committing to sustainability might just pay off for consumer brands."
One of the top sustainability factors that influence purchasing for 77 per cent of Vietnamese consumers is health and wellness. Moreover, products made with fresh, natural, and/or organic ingredients carry similar weight with consumers in Viet Nam (77 per cent).
Equally important among consumers in Viet Nam is brand trust (75 per cent).
When it comes to purchase intent, commitment to the environment has the power to sway product purchase for 62 per cent of consumers in Viet Nam, according to the survey.
Commitment to either social value or the consumer's community are also important (each influencing 61 per cent and 62 per cent of respondents, respectively).
In 2014, 65 per cent of total sales of consumer goods measured globally were generated by brands whose marketing conveyed commitment to social and/or environmental value.
TV ads highlighting a company's commitment to positive social and/or environmental impact are influential in the path to purchase for 45 per cent of respondents in Viet Nam.
