We live in a society where companies who value social responsibility are important. The millennial generation is obsessed with the concept of contributing to society and hyper aware of companies that aim to make the world a better place. Many have grown up alongside the concept of cause marketing and corporate social responsibility and now see it as a necessary part of every company. These socially responsible companies are able to charge more for their products and services because they are seen as more trustworthy and have a very loyal consumer base. Consumers, like millennials, that see making the world a better place as a necessity will choose a company who’s socially responsible over one who is not every time, even if the products are exactly the same.
In response to this increased desire for companies to contribute to society at large, one-for-one companies have emerged. Essentially, companies adopt a “buy one, give one” business model: a customer purchases your product and you donate your product to someone in need. Companies like Toms, Love Your Melon and Warby Parker made this famous but now socially minded entrepreneurs all across the world are adopting the same business concept.
One-for-one companies are extremely important because they show exactly how our world is changing. New generations of people are intrigued by the idea of giving back but would rather buy something or share something on social media than go help out at a soup kitchen for the weekend. Is this a good thing? In my opinion no, it merely perpetuates the stereotype that millennials are lazy and don’t have a solid work ethic. But, the world is changing and businesses have to change along with it.One-for-one companies are the key to where our society is going. These socially responsible companies directly appeal to the world's dominant target consumers, millennials, and their lifestyles. These innovative companies won't be going away anytime soon as corporate social responsibly becomes more important to society at large each year.
