“Shaping a Sustainable Future Society” was the third edition of Prada Group’s "Shaping a Future" conversations.
This year’s conference explored the meaning of social responsibility within business and society and seek to define what this truly means. The speakers reflected on the moral obligation of business, institutions and academic leaders to create an environment which encourages freedom, equality and justice.
ON THE NATURE AND IMPACT OF ETHICAL CONSIDERATIONS ON CONSUMERS
in partnership with The Yale Center for Customer Insights
The Yale Center for Customer Insights (YCCI) has partnered with the Prada Group to investigate how people think about and prioritize social issues, with a particular focus on the impact to consumer choice.
PURPOSE & KEY OBJECTIVES
- To provide opening remarks to encourage dialogue at the discussion session during this year Conference.
- To better understand how consumers think about, consider and evaluate dimensions of social responsibility including: diversity, human rights, environmental sustainability and fair treatment.
METHODOLOGY & SAMPLE
The methodology included a quantitative survey conducted via online methodology with Ipsos providing the panel of respondents.
- Representative survey (by age, gender and region) of approximately 1,000 US consumers who have made a “premium” purchase in the past 12 months in at least one of the following industries: Fashion, Automotive, Travel & Leisure, Consumer electronics.
- From within the 1,000 consumers, were oversampled luxury fashion consumers, ensuring that ~500 consumers have purchased an apparel, footwear or accessories item that is valued at over $500 within the past 12 months.
The study has determined consumers evaluations of various dimensions of social responsibility by looking across sectors, demographics and value chain.
The study has explored the ways chosen by businesses to improve their practices to show that they care about the issues facing society today. These decisions can also be made at various points in the value chain. In the survey, consumers have been provided with tangible examples of decisions made by firms and assess which ones drive intent to purchase for various industries and at various points in the value chain.