Corporate social responsibility (CSR) is a broad concept addressing topics such as human rights, corporate governance, health and safety, environmental effects, working conditions and economic development. Sustainability is another key component of CSR that continues to gain currency in the food and beverage industry. Market data suggests products and companies that keep sustainability as a focus are viewed in a more positive light by consumers, increasing trial, quality perceptions and willingness to pay a premium.
Takeaways for Your Business
- Widespread consumer use of social media has led many companies to re-examine how they do business.
- 60% of consumers are more likely to try the products and services of a company demonstrating CSR.
- Cocoa is one sector where manufacturers are gaining points for positively influencing supply chain.
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