71% of US Millennials are willing to spend more if the potion of the proceeds goes to a charity

New Ideas in MarketingEssential news for marketers, summarised by YouGov
April 08, 2020, 12:30 PM UTC

A study by 5W Public Relations found that it’s important for 83% of people aged 18-34 to have values aligned with companies they purchase from.

The report states that 71% of Millennials are willing to pay more for a product if a portion of the proceeds goes to a charity. 61% of people aged 35-54 and 40% aged 55 and over echo the sentiment.

67% Millennials require brands they purchase from to have a charitable component. 52% of the people aged 35-54 and only 30% of the people aged 55 and above feel the same way.

Also, word of mouth influenced purchasing behaviour of 93% of people aged 18-34, while online customer reviews influenced 90%. Content about products featured in news, magazines or newspapers had the most impact on 36% of people aged 35-54.

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