Do Consumers Value Corporate Social Responsibility in an Economic Downturn?

Abstract

Research examining consumer support for corporate social responsibility (CSR) has grown significantly over the past decade, demonstrating a generally positive level of support. However, our understanding of how consumers value CSR is limited by the context of relatively stable economic growth over the past decade. During times of economic uncertainty, when consumers retrench in their decision-making to attributes such as price and quality, this level of support for CSR is questionable. In the heart of the recession, we interview consumers and find that they do indeed find some CSR expendable. However, we find consumer support for other forms of CSR – those that add functional value to products – grow even more valuable during times of recession. The context of the recession extends not only previous research showing largely consistent support for CSR, but also provides a more nuanced examination of how consumers receive value from CSR.