A new survey bySherlock CommunicationsIt revealed that Corporate Social Responsibility (CSR) actions are highly influential in the decision-making of Brazilian and Latin American consumers. The study conducted with 3,258 people from six different Latin American countries (Argentina, Brazil, Chile, Colombia, Mexico, and Peru), with 835 from Brazil, aimed to understand how CSR practices impact consumers' opinions in the region and their spending decisions.
The research reveals that 90% of Brazilians agree that social and environmental responsibility practices directly influence opinions about companies operating in the country, with 77% of respondents stating that they only buy products or services from socially responsible companies. According to the report, many companies are losing money due to bad behavior.
Sarah O'Sullivan, research director at Broadminded (the research arm of Sherlock Communications), points out that “Latino consumers were clear in their feedback on our survey – 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 Brazilians interviewed felt that their opinions are more positive when companies are socio-environmental aware, and for 26% it is the most important factor of all.
For 10% of Brazilian consumers, social responsibility actions do not influence them and do not make a difference in their purchasing choices. Among all the countries participating in the survey, Argentina stands out with the least interested consumers in CSR: with 32% stating that social and environmental practices make no difference.
Sherlock Communications' research also reveals that, after Brazil, consumers in Peru and Colombia are the most concerned about corporate behavior. For 87% of Peruvians and 84% of Colombians, a company's social and environmental actions are important for shaping opinions.
Companies must focus efforts on combating 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 mentioned by the interviewees are: (45%) improving access to the healthcare 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 supply chain does not harm the environment. The second most important factor (45%) is knowing that the company pays its employees fairly, ensuring a good quality of life.
For O'Sullivan, “companies need to understand that social responsibility is not just a passing fad, but a market expectation in Latin America.”
Scientists and university professors are the most reliable sources for reporting on corporate responsibility actions
According to the survey, when it comes to promoting corporate social responsibility actions, Brazilians trust scientists and university professors (40%) more to tell the truth. Employees of companies (37%) and journalists (34%) make up the list of the most trusted sources.
To check the full report,Click here.
