Knowledge gap and cost are important factors and can negatively influence both consumers and businesses when certifications are used as a means to communicate product or service integrity, quality, and transparency.
SAN DIEGO (PRWEB) August 18, 2020
A complete review of 100 most commonly used sustainable, ethical and socially responsible certifications and labels was recently published by Hey Social Good. Titled “A Complete Evaluation of Sustainable and Ethical Certifications and Labels”, Hey Social Good examined in-depth over 100 available certifications in the socially responsible space. The technical review paper identified the benefits and challenges of both securing and valuing certifications.
Most critically, their research analysis revealed the obstacles preventing businesses from securing the best certifications and the challenging barrier that discourages consumers from effectively using certifications as a purchasing resource. Knowledge gap and cost are important factors and can negatively influence both consumers and businesses when certifications are used as a means to communicate product or service integrity, quality, and transparency.
The review paper found that approximately 70% of the most commonly registered certifications in the U.S. have cost associated with the application or verification process. Often, this cost to apply is high and businesses may not be able to justify the cost and energy to get verified. Consumers may be aware of easy-to-understand labels but have limited knowledge of the majority of certifications that signify a business’ sustainable and ethical practices.
Before Hey Social Good launched its “Yelp-like” platform of sustainable and give-back business, it invested over 18 months exploring and evaluating the socially responsible commerce space. Traditionally, commerce that highlights cause based values of socially responsible businesses and their customers have been highly underestimated and challenging to discover.
However, in recent years, consumers want to align their purchase choices with their social and environmental values. Generations Z and Millennials currently make up 50% of the US population, and the McKinsey Report found that 70 percent of Gen Zs purchase products from ethical companies and 65% make efforts to learn about the origins of their purchase goods. As a result, Hey Social Good has been examining how businesses best communicate its sustainable or give back practices, and how consumers best understand a company’s social good deeds.
CEO and Co-Founder Dr. Cindy J Lin, who previously worked for 20 years at the U.S. Environmental Protection Agency, shared that “certification or verification of a product or business integrity is key to helping businesses and consumers make better and impactful choices.”
Hey Social Good and its parent company, HOVE Social Good Intelligence, conducts special research and analysis of important topics that can help consumers and businesses understand the complexities of the social good commerce and business space. In addition, it launched its robust data-driven B2B platform earlier this year.
Hey Social Good’s data-driven platform is designed for consumers and businesses to find and list sustainable alternatives fast and without hassle. Consumers have a much easier way to understand how their purchase positively impacts the world around them with their simple medal rankings.
Hey Social Good’s Social Good Optimization Data (SoGood) Assessment Verification Process is offered free for all sustainable and ethical businesses.
Hey Social Good is powered by HOVE Social Good Intelligence, a unique social impact focused data analytics Public Benefit Corporation.
For more information, visit: https://www.heysocialgood.com