The rewards of engaging in corporate social responsibility
Every business, regardless of size, should acknowledge its responsibility to the community as a whole. By doing so, you also attract the more socially conscious customer. According to American Express Market Brief, restaurant patrons are most concerned about working conditions and wages for employees and environmental issues. These figures tell the story:
- About 21% of consumers selected living wages for workers as the main concern they would like restaurants to address; 19% chose environmental issues.
- Locally sourced and organic ingredients are top concerns for consumers.
- One-fifth of consumers report that they are willing to go out of their way to eat at a socially responsible restaurant and about half said they would do so if it is convenient.
- About two-thirds of consumers reported being willing to pay more at a socially responsible restaurant, with the majority of consumers saying they would pay up to 5% more.
- Seven out of ten consumers said they would be more likely to frequent a socially responsible restaurant.
Source: Technomic Inc., September 2, 2010