A new survey bySherlock Communicationsrevealed 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, being 835 from Brazil, it aimed to understand how CSR practices impact consumer opinions in the region and their spending decisions.
The research reveals that 90% of Brazilians agree that social and environmental responsibility practices directly influence their opinion 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 of Broadminded (research department of Sherlock Communications), highlights that "Latino consumers were clear in their comments about our research – 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 research "Corporate Social Responsibility in Latin America in 2024", 64% of the Brazilian respondents felt that their opinions are more positive when companies have social and environmental awareness, given that 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 research, Argentina stands out with the least interested consumer in CSR: 32% stating that socio-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, the socio-environmental actions of a company are important for shaping opinion
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 production chain does not harm the environment. The second most relevant factor (45%) is knowing that the company compensates its employees fairly, ensuring a good quality of life
For O’Sullivan, companies need to understand that social responsibility is not just a passing trend, but another market expectation in Latin America
Scientists and university professors are the most reliable sources for reporting on corporate responsibility actions
According to the research, when it comes to promoting companies' CSR actions, Brazilians trust scientists and university professors (40%) more to tell the truth. Employees of companies (37%) and journalists (34%) complete the list of the most trusted sources
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