While 84 percent of American consumers are feeling the direct impact of inflation, three in four consumers are still in favor of the recent sanctions placed against Russia, according to new research from independently-owned PR firm 5W Public Relations. And seven in ten say they would boycott a product after learning it was produced in or imported from Russia.
“As many consumers are finding their money is not going as far at the pump and the grocery store, their decision to prioritize personal values over price speaks volumes,” said 5WPR Co-CEO, Dara A. Busch, in a news release. “Our survey found 77 percent of consumers surveyed are more inclined right now to support Ukrainian brands and businesses with their purchases. Consumers are looking to make a difference where they can, and are looking at brands to provide that opportunity.”
Current events prove a make-or-break moment for brands to react
Seventy-one percent of American consumers surveyed shared that a brand’s decision to cut off ties with Russia in support of Ukraine impacts their perception of the brand for the better.
“Our survey revealed that brand statements aren’t enough, consumers will see through them. Instead, consumers value and respond to tangible and meaningful action from brands, such as cutting off business ties or donating to relief efforts. Brands who don’t make the right move will fall out of favor with consumers,” added Busch.
The research was conducted by 5WPR and Censuswide, with 2,000 respondents aged 18+ across the USA between 03.07.22 and 03.22.22. The survey was conducted from a nationally representative of American adults. Censuswide abides by and employ members of the Market Research Society which is based on the ESOMAR principles.