Consumers are willing to pay more for purposeful brands

Toms business model has wider societal interests at its heartResponsible consumption (RC) brands have now overtaken ‘conventional’ brands in terms of growth rate, according to IRI and Boston Consulting Group’s 2015 European study. The research finds that RC products experienced 8.5% growth in 2013/14, compared to a growth rate of 4.5% for conventional products. Furthermore, it finds RC products are able to command a higher price point, on average 58% (and as much as 113%)