Theoretical contribution and answering the research question

This study is dedicated to the phenomena of sustainability and CSR. To be more specific, it examines an impact of CSR engagement on consumers from both a company’s point of view and perspective of consumers.

Based on the European Commission and Global Survey on Sustainability and the SDGs, a society Is aware of the importance of sustainability and consumers do take an interest in this matter (European Commission, 2017 and Global Survey on Sustainability and the SDGs, 2020). This research confirmed the assumption that consumers are familiar with the meaning of sustainability. When it comes to the perceived importance of the sus-tainability issue, consumers are aware of the fact that sussus-tainability plays an important role in our lives. However, there is no clear statement regarding consumer interest in the phenomenon of sustainability. This study shows that even though more respondents do not take an interest in sustainability, they are interested in sustainable or environ-mentally friendly products. This might be caused by a lack of knowledge when it comes to the sustainability and what it includes. On the other hand, these products represent only a part of the complex issue which might imply that consumers are not interested in sustainability as a whole, but they do care about individual components.

The phenomenon of CSR has its critics such as Friedman (1970) and supporters such as Porter and Kramer (2006). According to the last two authors, CSR might become a com-petitive advantage (Bosch-Badia, Montllor-Serrats & Tarrazon, 2013). Furthermore, based on the Nielsen’s report, 66% respondents prefer goods from companies that are socially responsible (Nielsen, 2015). However, consumers need to be well informed about the CSR engagement in order to be able to reward a company’s involvement (Servaes &Tamayo, 2013). Previous studies also imply that the CSR initiative does have an effect on consumers. CSR is expected to have a short-term effect on consumers while encouraging their purchase intentions as well as a long-term impact that is represented by developing a reputation of the firm, which might lead to a creation of competitive advantage (Bianchi, Bruno & Sarabia-Sanchez, 2019). This research rather confirmed that consumers are aware of the CSR since more participants answered positively. In addition, findings of the study prove what was claimed above – the communication of CSR activities plays a very significant role and when it is not done properly, consumers are not aware of what company actually does in this field. Furthermore, consumers ra-ther agree that the CSR engagement of a company does affect them. Moreover, re-spondents prefer socially responsible company over its competitors when keeping the price and quality on the same level. However, when it came to the higher price, majority of people were neutral. This suggests that CSR in general does have an impact on con-sumers, but it is incomparable to the influence of the price for instance.

Based on studies by Environics (1999), Walker (1994) and Brown and Dacin (1997), CSR is strongly interlinked with consumers’ purchase behavior. According to Cone/Roper study (1994) as well as Nielsen’s report, respondents are willingness to pay more for products made by a responsible company (Patra & Das, 2016 and Nielsen, 2015). How-ever, it might not be always translated into purchase behavior. Studies carried out by Smith (2009) or Sen and Bhattacharya (2016) agree on four consumer responses to CSR, namely: willingness to pay more, purchase intentions, company evaluation and word-of-mouth intentions (van Kessel, Schenkel, Semeijn & Ghijsen, 2014). Additionally, Beck-mann claims that consumers appreciate socially responsible companies and it can be

behavior, more than a half would purchase products made by responsible companies.

However, slightly more participants would not be willing to pay higher price due to CSR engagement of the company. The results of the quantitative research show that a slightly more than a half of respondents would purchase products made by a socially responsible company. Moreover, examining the factors affecting purchase decisions, consumers were rather in favor or neutral when it came to the CSR initiative. These out-comes imply an agreement with previous studies when it out-comes to purchase decisions.

Purchase behavior is affected by the phenomenon of CSR, but it is not a direct impact.

Speaking of willingness to pay more, it was found out that consumers are rather willing to pay a higher price for the products made by a socially responsible company which supports the previous studies. However, when addressing this issue in a different for-mulation, a slightly less than a half of respondents would pay more. Therefore, willing-ness to pay a higher price due to CSR engagement is not unequivocal even though the research rather supports the previous study. This research also examined a connection between CSR and company’s reputation and image. It was found out that reputation of the company increases with the CSR engagement that is in an agreement with previous studies. In addition, socially responsible companies are perceived to be more valuable that the irresponsible ones.

The research conducted confirms that a CSR initiative does have an impact on consum-ers. However, this impact does not have to be always translated into purchase decisions.

When it comes to the specific effects of CSR on consumers, the research suggests firstly

an increased reputation and image of the company, secondly increased loyalty to the company, thirdly formation of preference of the company over its competitors and lastly purchase of products made by the company. Additionally, CSR affects a perceived value of the company as well, to be more specific, socially committed companies are more valuable in the eyes of consumers. However, as the data presented above imply, CSR engagement is not the only factor influencing consumers. Price, reputation and image of a company as well as a brand itself play a more significant role for consumers than the CSR.