Patagonia is making recent headlines, and it’s because of its only shareholder: planet Earth. Company founder Yvon Chouinard is donating the outdoor clothing retailer to a non-profit organization dedicated to fighting climate change, to ensure their core values and employees worldwide are protected.
With the brand’s alternative approach to selling/going public, how are consumers responding?
CivicScience data show that 42% of U.S. adults aware of Patagonia are more likely to purchase their products now in light of the company being donated to fight against the global climate crisis. And, more than a quarter report they are ‘much more likely’ to buy from them.
Interestingly, Americans are now more than twice as likely to think that corporations should be held the most accountable for fighting climate change than they are to think the U.S. government should be.
It’s important to note that serious concern over climate change has increased within Q3 (from 34% to 37%), although it remains below its peak in late 2020 (51%). And the percentage of consumers who are ‘not concerned at all’ has decreased from its high point in mid-2021, currently resting at 21%.
These recent findings suggest that consumers are willing to engage with companies fighting environmental issues, and companies may already have an audience base that cares about these issues. Therefore, brands committing to environmentally-focused value propositions and objectives could benefit all stakeholders: the company, consumers, and the environment.