Why CSV index matters?
From 2022 to 2024 Corporate Values are Changing
In an era where the alignment of commerce with social conscience is under increasing scrutiny, the 2024 Corporate Social Value (CSV) Index emerges as a vital tool for deciphering the intricate interplay between consumer expectations and corporate behavior. Spearheaded by NYU’s School of Professional Studies - Division of Programs in Business, this report delves deep into the complex relationship between brands and their consumers, exploring how shared values on social issues can either cement or erode brand loyalty.
Building upon the groundwork laid by NYU SPS’s 2022 Corporate Social Values report, which set the foundation for educating brands about their social responsibilities, the 2024 CSV Index unveils new layers of consumer-brand dynamics. Through primary data collection and novel analysis, we uncover fresh insights into the alignment between consumer social values and those upheld by brands, examining how these relationships vary across demographic factors such as age, gender, political ideology, and geography within the United States.
The 2022 report highlighted a deeply divided landscape of social values among US consumers, with traditional brands like Toyota, LG, and General Electric resonating strongly with consumer values. In the 2024 CSV Index, we see seismic shifts in brand rankings and explore the impact of pivotal social issues, such as Women’s Reproductive Health, on brand perception.
Ultimately, this report serves as a compass for stakeholders navigating the evolving terrain of corporate social responsibility, offering nuanced perspectives on the relationship between consumer expectations, corporate conduct, and societal values.
Key Findings
01
Brands’ Social Values Remain Critical
Consumers continue to prioritize brands that align with their social values, with brand social value more important than product benefits in shaping overall brand loyalty.
02
Top Brands: L’Oréal, Samsung, Xfinity, Apple, and Chanel
L’Oréal ranks as the leading brand in the US, followed by Samsung, Xfinity, Apple, and Chanel—notably, three out of the top five brands are foreign companies.
03
Women’s Reproductive Rights are less important
Consumers did not significantly differentiate between companies that actively support women’s reproductive rights and those that do not.
What People Say
Takeways
01
Brand Social Value remains a pivotal determinant of brand loyalty and relationships
Consumers continue to prioritize alignment with brands that share their social values, which remain more important than product benefits.
03
The persisting societal divide in social values presents a challenge
The decline in ideologically centrist individuals, from 48% to 46%, underscores a significant lean towards either conservative or liberal ideologies, with fewer consumers in the middle ground.
05
Among the 18 most pertinent social topics
Free healthcare garners the highest support at 65.5%, while socialism and transgender athlete participation receive the least backing.
07
Top Corporate Brands
Two French brands have ascended into the top 5, with L’Oréal claiming the top spot and Chanel ranking fifth. Meta (Facebook) made significant strides, moving from 74th to 9th place.
02
Consumer Social Values have exhibited minimal shifts over the past two years
Despite a slight increase in liberal identification from 21% in 2022 to 23% in 2024, conservative values still maintain prominence among the US population.
04
Top social issues for US consumers include the economy, violent crime, and world peace
These topics remain paramount in shaping consumers’ perceptions of brands.
06
Birth control and contraception emerge as non-controversial subjects
Opposition stands at just over 5% of the population, showing broad acceptance of these issues.
08
Luxury brands continue to lag behind mass-market counterparts
In terms of consumer preference, luxury brands have struggled to compete with mass-market brands.
Methodology
The 2024 CSV Index is based on primary data collected from 2,532 US consumers, carefully selected to reflect a national cross-section of the population. Respondents evaluated 75 corporate brands using three distinct indices:
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Brand Social Values (BSV) Index: Measures the alignment between a brand’s social values and consumer expectations.
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Brand Product Benefits (BPB) Index: Assesses the alignment between a brand’s product benefits and consumer-preferred values.
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Total Match Index: Combines social value and product benefit assessments to gauge overall brand strength.