ESGs and Customer Choice: Some Empirical Evidence

Area of Science:

• Business Administration
• Consumer Behavior
• Sustainability Studies

Background:

• Growing importance of corporate social responsibility and sustainability.
• Need to understand consumer decision-making in relation to Environmental, Social, and Governance (ESG) factors.
• Potential impact of global events like the COVID-19 pandemic on consumer priorities.

Purpose of the Study:

• To determine if ESG performance influences customer choice in Greece.
• To identify the most impactful ESG indicators on consumer decisions.
• To assess the effect of the COVID-19 pandemic and regional/demographic factors on ESG indicator hierarchy.

Main Methods:

• Primary data collection through a questionnaire survey in Greece.
• Analysis of consumer responses regarding company ESG performance.
• Comparative analysis of regional and demographic influences on consumer preferences.

Main Results:

• ESG performance significantly influences consumer choice, with environmental and social indicators being most important.
• Social indicators are valued by both urban and suburban consumers.
• Urban consumers prioritize governance, while suburban consumers prioritize environmental indicators.

Conclusions:

• Company ESG performance is a key driver of consumer choice, particularly environmental and social aspects.
• Consumer preferences for ESG indicators vary based on location (urban vs. suburban).
• While COVID-19 did not significantly alter the hierarchy, it reinforced the importance of social indicators.