Corporate social responsibility and circular economy from the perspective of consumers: A cross‐cultural analysis in the cosmetic industry

Abstract

Abstract Corporate social responsibility (CSR) and circular economy (CE) have assumed considerable importance in the efforts for sustainable development. However, some consumers do not positively respond to CSR and CE activities, and few studies have analyzed the consumers' perspective about the topics. This study investigates consumer knowledge and perception about CSR and CE and their willingness to pay (WTP) for products from companies that follow these concepts, examining differences according to demographic characteristics. We carried out a survey with 302 Brazilian and Italian consumers of cosmetic products. Our results show that most consumers have a low understanding of CSR and CE and a low perception of the socio‐environmental initiatives of companies that follow CSR and CE concepts. Nevertheless, most consumers show WTP for products from companies that follow these concepts. We identified demographic variables that allowed us to relate the profile of consumers with their knowledge about CSR and CE and their WTP. We provide insights for companies and policymakers in advancing toward CSR and CE.