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New York--Affluent shoppers notice when brand makes an effort to source products responsibly or give back to their community and are more likely to buy from such companies, a new study shows.

According to the third-quarter report on Corporate Social Responsibility (CSR) from The Affluence Collaborative, a research initiative of New York-based advertising firm AgencySacks, a total of 77 percent of consumers surveyed and classified as affluent ($75,000 or higher in annual income) said that companies “doing good”--being socially responsible and/or supporting charitable causes--is a “tie breaker” for them in purchasing situations.

In other words, if a shopper is undecided between two products, more than three-quarters of them will select the product that’s backed by the company that’s exercising CSR and making it known.

In addition, 60 percent said they are more loyal to companies that are “doing good,” 62 percent said a company’s CSR would push them to try the brand for the first time and 42 percent said they would pay more for a brand because of what it gives back.

When asked what causes brands should choose to support, 53 percent of affluents said it doesn’t matter if the cause chosen relates to the actual brand itself. They do, however, prefer causes in which the brand automatically donates a percentage of sales to a charity (45 percent), picks a cause that directly impacts the local community (43 percent) and/or when the brand shows genuine enthusiasm for the cause it supports (41 percent). 

The Affluence Collaborative’s study findings come at a time when supply chain ethics is a constant topic of conversation in the jewelry industry.

In the wake of the recent decision by Kimberley Process (KP) participants to allow Zimbabwe to export rough from its troubled Marange fields, Jewelers of America has said that a number of industry organizations are working to develop a mechanism that would give consumers assurance of ethically sourced diamonds beyond the KP.

Responsible sourcing from mine to market is one of the cornerstones of De Beers’ Forevermark diamond brand, introduced into the U.S. market this fall, and in August industry veteran Martin Rapaport said he was launching a system of “ethical grading” for diamonds.

In addition, a group of organizations recently announced plans for the broad introduction of Fairtrade and Fairmined gold in the U.S. market next year.

The Affluence Collaborative produces quarterly reports on wealthy consumers using information gleaned from leaders at companies that cater to high-end clients, “thought leaders” who are experts on the habits of wealthy consumers and affluents themselves.