Brand purpose increasingly important for Chinese consumers

Edelman’s “Good Purpose 2012” study showed consumers in the bull markets of China, India, Indonesia, Malaysia, United Arab Emirates and Brazil place a greater emphasis on brands with purpose than their counterparts in the US and Western Europe - the bear markets. 

A total of 82 per cent of consumers in bull markets were more likely to recommend a brand that supports a good cause, compared to 64 per cent in the US and Western Europe.

It added that consumers in bull markets are also purchasing products with purpose with greater frequency than those in more mature markets, it added.  

Edelman, said the trend towards socially responsible brands is driven by increased purchasing power across rapid growth economies.

Carol Cone, global practice chair of business and social purpose at Edelman, said, “Purpose, a brand or company's reason for being beyond profits, is now pervasive around the globe. For purpose-driven initiatives to gain their greatest impact, both business and social, they must be in line with larger socioeconomic trends and customised to meet the ever-changing needs of consumers."

The report was based on a study of 8,000 consumers across 16 markets.