Study on Korean consumers' perception on corporate sustainability of consumer goods company (focusing on future generation)

Abstract

This study seeks to understand the perceptions of Korean consumers in terms of corporate sustainability focusing on future generations and suggest corporate sustainability strategies. This discussion’s main scope of research is on consumer goods (FMCG) companies because consumers expect them to be responsible for the environment because of growing concern over excessive plastic waste and greenhouse gas. The research is based on nation-wide survey of 400 Korean consumers to discover how consumers perceive future generation, what types of corporate sustainability activities are perceived as sustainable for our future generation, and who are the types of shoppers willing to purchase goods at a higher price if they are produced in a sustainable way. ANOVA analysis leads to conclusion that there is a positive relation between those who care about well-being of future generations or those who practice environment protection habits and the willingness to purchase the products even at a higher rate. The result emphasizes that companies should proactively understand the importance of future generation in consumer’s mindset and identify potential shoppers who are willing to purchase the sustainability products for their long-term profits and corporate image. The study further implies role of the public entity on raising awareness of environment protection for young generation, who are our future consumers.