The research, from MediaCom, also revealed that 63% of people believe that brands have a responsibility to give back to society. Almost half ( 49%) of consumers said they were willing to pay more for a brand that supports a cause that is important to them, with this figure rising to 60% among 18-24 year-olds.

Similarly, while 35% of all respondents have bought a brand product specifically because of its chosen values or beliefs, this rises to 49% in 18-24 year-olds. 

“It’s our belief that we, as a society, are heading towards mass adoption of purpose,” said Pauline Robson, managing partner and head of Real World Insight, MediaCom’s research arm.

“Overall, there is an increasing awareness of and focus on what a brand stands for – to the point where many people are willing to buy more and pay more for a company they feel makes a positive impact. What brand can afford to ignore that?

"Working to make a positive impact on society isn’t a ‘nice to have’, it should be part of a brand’s DNA and a pillar of any communications and interactions with consumers. It can make your brand stand apart from the competition.”