A new survey of Sherlock Communications it revealed that Corporate Social Responsibility (CSR) actions are extremely influential in the decision-making of Brazilian and Latin American consumers. The study conducted with 3,258 people from six different countries in Latin America (Argentina, Brazil, Chile, Colombia, Mexico and Peru), 835 of which are from Brazil, aimed to understand how CSR practices impact consumer opinions in the region and their spending decisions.
The survey reveals that 90% of Brazilians agree that social and environmental responsibility practices directly influence the opinion about companies operating in the country, with 77% of respondents stating that they only buy products or services from socially responsible companies.
Sarah O’Sullivan, research director at Broadminded (research department at Sherlock Communications), points out that “ Latino consumers were clear in their comments on our survey 5 many will not buy goods or services from companies whose practices they do not agree with. This highlights the urgent need for companies to adopt ethical and transparent practices”.
Social responsibility is the priority
According to the survey “Corporate Social Responsibility in Latin America in 2024”, 64% of the Brazilians interviewed felt that their opinions are more positive when companies have socio-environmental awareness, and for 26% is the most important factor of all.
For 10% of Brazilian consumers, social responsibility actions do not influence them and make no difference in their purchase choices. Among all countries participating in the survey, Argentina stands out with the consumer less interested in CSR: with 32% stating that socio-environmental practices do not make a difference.
Sherlock Communications research also reveals that, after Brazil, consumers in Peru and Colombia are the most concerned about the behavior of companies.For 87% of Peruvians and 84% of Colombians, the socio-environmental actions of a company are important for opinion formation.
Companies should focus on tackling air and water pollution
Another revelation of the study is that, for 45% of Brazilians, companies should focus their CSR efforts on combating air and water pollution. Two other important issues cited by respondents are: (45%) improving access to the health system and (43%) combating global warming and its consequences.
66% of Brazilians responded to the survey that the most important factor for a positive image of the company is knowing that its production chain does not harm the environment. The second most relevant factor (45%) is knowing that the company pays its employees fairly, ensuring a good quality of life.
For the’Sullivan, “ companies need to understand that social responsibility is not just a fad, but a market expectation in Latin America”.
Scientists and university professors are the most reliable sources for disclosing corporate responsibility actions
According to the survey, when it comes to disclosing CSR actions of companies, Brazilians rely more on scientists and university professors (40%) to tell the truth.Firm employees (37%) and journalists (34%) complete the list of the most trusted sources.
To check the full report click here..
