Consumers want to do the right thing: a very interesting study

At this link here, we see a consumer behavior study conducted by Harvard. This study establishes that consumers prefer to buy products (even if they are slightly costlier) that are produced under fair labor practices. Probably this is because most consumers are from the salaried class themselves. Hence, empathy is greater and one would want to keep the conscience clean.

We are aware of the phenomenon, that HIGH QUALITY of goods creates premium for products. Consumers are willing to pay higher for products of superior quality. INNOVATION in products also creates premium ... now this study establishes that consumers are willing to pay a premium for products produced with fair labor practices. This is a new dimension. Thus, we see price is a function of labor practices, innovation, and quality.