Edelman’s cause study finds brand loyalty in recession
NEW YORK: In its second annual Goodpurpose study, Edelman found that 68% of consumers believe that they would stay loyal to a brand that supports a good cause, even in a recession. In addition, 42% of those surveyed said social purpose trumps design and innovation when it comes to two products of the same quality and price. But 63% of consumers say companies spend too much money for advertising and marketing, when it could be used for a cause.
Mitch Markson, president of the New York-based agency’s global consumer brands practice, said that the study “reinforced” what the Goodpurpose consultancy has been hearing. For this year’s study, which was released November 17, 6,000 people in 10 countries were surveyed in August, September, and October.
