Ethical Boycotts Cost Business £2.6bn a Year
Ethically-led customers make an impact
9th December 2003
A report from the Co-op Bank estimates that big business lost £2.6bn of custom this year from customers who boycotted companies who were ethically questionable.
The Co-op is widely known for its Ethical Investment policies, and publishes an annual Ethical Purchasing Index which is designed to show trends in ethical spending.
The index for 2003 suggests that consumer boycotting of companies who have dubious ethical practices has had a real bottom-line impact, with 'ethical' spending growing by 13% since 2001 compared to an overall UK economic growth of 1.7%.
The overall market share for ethical products is still a low 2%, although some products such as free range eggs now account for up to 40% of their market.
Read More: Co-Op Press Release
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