The events of 2020 led to more corporations making statements and promises around social and racial justice than any other time in history. But it didn’t take long for those efforts to ring hollow with a public that is increasingly skeptical and expectant of corporate America to play a role in pushing progress.
Data lays bare the reality of consumer sentiments about corporations and their racial equity obligation. A survey by the market research firm Ipsos found that 81% of consumers in the U.S. believe brands have a role to play in addressing racial injustice, and 65% said that they would stop buying from a brand that doesn’t take a stand on racial injustice.
In a survey conducted by the consulting firm Accenture (No. 1 on DiversityInc’s 2022 Top 50 Companies for Diversity list), 41% of consumers said they would pay more for products and services from companies that are committed to racial equality.