canadian consumers are increasingly aware of the power their spending exerts on the economy.
they are urging companies to drive social and environmental change. at the same time, they want
to support local business growth and are willing to pay a premium for local products that reflect
their concerns.
many canadian consumers support local businesses as a way to foster economic development.
they want companies to invest in their community by creating jobs and improving infrastructure
in an eco-friendly way. although consumers realize that companies alone cannot solve these issues,
they are willing to support those that make an effort. additionally, increased concerns about the
safety of imported products are stimulating consumer demand for local products. this creates an
opportunity for smes to differentiate themselves from multinational corporations among socially
conscious consumers, as long as their services and products are of comparable or better quality.
consumers now expect all businesses to consider csr. the same moral concerns that led coffee
and chocolate companies to adopt fair trade practices in recent years are now affecting other
industries. smes that espouse ethical and sustainable production practices—and highlight concrete
results—will gain a competitive advantage and tap into an increasingly valuable market segment.