Boy: Some consumer groups are now signaling their willingness to do this, and corporations are responding. The force behind this new kind of partnership is called cause-related marketing. According to The Financial Times, cause-related marketing is when a company and a charity or a consumer group tackle a social or an environmental problem and create business value for the company at the same time.
In March 2012, the global marketing firm, Nielsen, conducted a worldwide study on consumer responses to cause-related marketing. The poll found that 2/3 of consumers around the world say that they prefer to buy products and services from companies that give back to society. Nearly 50 percent of consumers say that they were, and I'm quoting here, willing to pay more for goods and services from companies that are giving back.
The fact that large numbers of consumers are concerned enough about fairness to pay more for products is key to solving the problems that surround the ethical manufacture of clothing. Corporations can appeal to this group of socially conscious consumers by addressing concerns about ethical manufacturing. What do corporations gain by addressing these concerns? It allows them to charge more for their products while increasing their profit margins and improving their brand image. This means that, as socially conscious consumers, we can set the standards that corporations must meet if they wish to maximize their profits from our purchasing power.