October 8th 2013, Dublin: In a consumer driven business environment where customers are increasingly conscious of their purchasing decisions, over 72% of Irish adults have stated that they consider a company’s reputation when buying their products or services.
The research performed by Amárach on behalf of Business in the Community Ireland, also found that 80% of these adults are over the age of 55 – the consumer demographic with more disposable income who are willing to pay more for products and services that fulfil their needs.* The survey results were announced at the launch of Responsible Business Week 14th-18th October 2013, where a panel of CEO’s from top Irish businesses including Veolia Transdev (who operate the Luas), Accenture, Eirgrid and Pfizer discussed how sustainable and responsible business practices are working for their organisation.
Commenting on the survey results Tina Roche, CEO, Business in the Community Ireland said:
“Strong responsible and sustainable practices can have an impact on consumer behaviour. Externally it builds a company’s and indeed a brand’s reputation which can have far reaching effects on customer engagement and loyalty. This research shows that Irish consumers are making responsible purchasing decisions, so it’s crucial for companies to respond to this consumer need by engaging in and communicating their responsible business practices.”
In a year where business reputation has been firmly in the spotlight, the findings further reveal that 1 in 4 (25%) of Irish adults think that Irish Business Reputation has worsened during the past year with just 16% feeling there is an improvement. Irish consumers also point to the Irish government for direction in relation to supply chain ethics with nearly three quarters (73%) thinking the government should require its suppliers to prove they are behaving ethically in other parts of the world.
Roche further commented:
“Increasingly Business in the Community Ireland, through working with top companies, is aware that supply chain and security of supply chain are the top issues being discussed at boardroom level. In light of the Bangladesh tragedy and the Horse Meat scandal businesses should be ensuring a quality, robust, open and transparent supply chain that has best practice standards embedded in it. For all our sakes.”