A new survey reveals consumers in emerging markets across Asia/Pacific are more likely to choose a product based on whether it is perceived as more socially responsible than those in developed markets. Overall, products which are fair trade have the most appeal.
The MasterCard survey uncovered the following:
• Overall, Indonesians (78.7%), Chinese (73.8%), Malaysians (73.8%) and Thais (73.6%) are most likely to consider whether a product is fair trade, environmentally friendly or donates a portion of proceeds to charity when buying.
• Purchases of socially responsible products are lowest in Australia (29.2%) and New Zealand (33.6%).
• More than half (56.6%) of shoppers in Asia/Pacific are likely to purchase a product because it is ethical.
• Across the countries polled an average of 64.0% purchased products based on fair trade principles, 58.8% bought products which are environmentally friendly and 47.0% purchased products donating a portion of their sales to a good cause.
• Chinese shoppers (68.3%) are most likely to buy products from a merchant that they consider ethical, followed by Thais (68.0%) and Malaysians (64.3%).
• Consumers in Japan (20.9%)are least likely to consider whether a merchant acts ‘ethically’ when shopping, followed by consumers in Korea (28.8%) and Hong Kong (29.9%).
• The most important ethical issue for shoppers in the region when choosing where to buy from is whether the merchant is environmentally responsible (46.5%).
For data, background and forecasts on Asia-Pacific Payments: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 payments metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).