Climate change credentials, ethical business practices impact buying decisions

New Ideas in MarketingEssential news for marketers, summarised by YouGov
November 10, 2021, 11:07 AM UTC

Consumers (68%) want proof of climate change action within 36 months from brands, finds Exasol's recent global report with Sapio Research, which included the US and the UK.

28% of customers believe that most companies they buy from are not doing enough to combat climate change, as per the report. In addition, 85% changed their minds about buying products from a firm because it isn’t doing enough to combat climate change.

Moreover, 54% of CSR decision-makers believe that if their companies do not take action on climate change, they will be out of business in a decade. When it comes to informing purchasing decisions, 88% of say that ethical and sustainable businesses are key factors.

Other motivators include a brand's climate change credentials, diversity and inclusion, and ethical business practices, according to 86% of consumers. However, 42% of brands reported creating a “roadmap” about climate-friendly business practices. Further, 82% of CSR decision-makers believe they could make better decisions around climate change if they had access to data-led insights.  Investing in data-driven insights, can help brands support climate change decisions.

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