Podcast: Why choosing ethical products gives us a self-esteem boost
Ethical purchases are not entirely altruistic - they provide value to the consumer in the form of a self-esteem boost, says Jill Klein.
"One piece of advice that I would have for consumers is, don't feel bad that it makes you feel good to buy an ethical product," Professor Klein says.
"If what makes you feel good is helping someone else, that suggests you're an altruistic person and you should be proud of that.
"It doesn't matter if you're doing it for the farmer or you're doing it for yourself or you're doing it for a combination of the two. The farmer gets the same help and that's a key thing for consumers to know."
Professor Klein is a Professor of Marketing at Melbourne Business School whose research focuses on consumer behaviour as well as decision-making biases and how they affect decisions in both business and medical settings.
In the latest episode of the Melbourne Business School Podcast, she speaks with Yasmin Rupesinghe about her latest research into why consumers purchase ethical products and the role that self-esteem plays in the process.
"Ethical consumption is basically the idea that you choose what to purchase and consume based on not just the quality of the product but whether you think it's good for the environment, that the company treats its workers well and so on. Those kinds of issues come into play when you're making your choices. That's ethical consumption," Professor Klein says.
Listen to the full episode above, or visit our podcasts page for more.
Professor Klein teaches Managerial Judgement, Decision Making and Resilient Leadership on our MBA programs and facilitates several Short Courses. Her research has been published in the Journal of Marketing, Management Science, Journal of Consumer Psychology, British Medical Journal and more. Visit her faculty profile for more information.