A Consumer Shift in Responsible Spending

consumer-spendingObama is talking about it. Gap, Hewlett Pack (HP) and Timberland are talking about it. Neighbors, executives and world politicians are also talking about it. What are they are all talking about? … Answer: Social Responsibility.

A recent article in Time magazine written by managing editor, Richard Stengel, introduced the idea of a new kind of consumer. “We are again entering a period of social change as Americans are recalibrating our sense of what it means to be a citizen, not just through voting or volunteering but also through commerce: by what we buy. There is a new dimension to civic duty that is growing in America – it’s the idea that we can serve not only by spending time in our communities and classrooms but by spending more responsibly. We are starting to put our money where our ideals are.”

Never in the history of capitalism has social responsibility played such an important role. Gone are the days of cheap talk and sparse metrics to prove the importance of corporate social responsibility. In fact, according to a recent poll in Time magazine, 40 percent of all respondents said they purchased a product in 2009 because they liked the social or political values of the company that produced it. From that same poll, 82 percent said they have consciously supported local or neighborhood business this year. Read more at Utah Business Magazine.

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