Australians are taking a new approach to shopping with eight out of 10 shoppers preferring to buy products from businesses that were known for giving back to local communities, a new survey shows.
Australians are taking a new approach to shopping with eight out of 10 shoppers preferring to buy products from businesses that were known for giving back to local communities, a new survey shows.
Australians are taking a new approach to shopping with eight out of 10 shoppers preferring to buy products from businesses that were known for giving back to local communities, a new survey shows.
The survey, compiled by MasterCard Worldwide, found that the adage "charity begins at home" appeared to be alive and well with Australians willing to shop for products that come with an add-on benefit for their local community.
MasterCard Worldwide Australasia executive vice president, Eddie Grobler said that many Australian consumers appeared to be adopting a new approach to shopping, which was likely to change the way retailers and companies marketed their products and services.
"We've seen an emerging trend among Australians who shop armed with both a payment card and a conscience."
"In 2009, as the world battled with the Global Financial Crisis, for many consumers, cautious spending meant not only tightening purse strings, but also being mindful of the impact their spending was having on the local community," Mr Grobler said.
The survey also found that four in ten respondents would go out of their way to purchase gifts where a percentage of the sale went to a charity, while nearly half (47%) said they were willing to pay more for such gifts.
Mr Grobler said consumers' preference for ethical spending had far-reaching potential for retailers and charities hoping to capitalise on the changing consumer landscape.
"Companies and retailers which demonstrate a strong affinity to the local community and show they are not only socially responsible, but actively contribute to a cause with a tangible outcome, could reap considerable benefits through increased loyalty and brand awareness.
"Conversely, charities which are able to successfully link themselves with an ethical product or socially-minded company could see increased revenue and a greater awareness for their cause," he said.
For those respondents who chose to donate directly to a charity, 34 per cent said they preferred to give to local charities. When asked about causes to which they felt a strong affinity, 41 per cent favoured organisations which focused on combating serious illness such as cancer or heart disease and 36 per cent named local natural disaster relief.