Many businesses nowadays are focusing on being socially responsible. Whether it is donating a percentage of profits to a cause or agreeing to function ethically, more and more companies are agreeing to abide by these responsibilities. Starbucks for example, is one such company. They have recently announced that they will be offering fair trade espresso at all Canadian university campuses.
This is a huge decision for the company because it impacts them directly. Fair trade and ethically sourced products are often more expensive because the workers are paid fairly and the facilities are safe. Fair-trade products used to be a major point of difference for businesses, however many companies now support the fair trade industry. Starbucks is a profit-driven corporation, so they are looking to benefit themselves with this new value proposition. I think that by selling fair-trade coffee, Starbucks will only become more profitable. They already had a huge consumer base, and now they can cater to those who are socially conscious. While their prices may increase, people will overlook it if they feel like they are contributing to the greater good. I know I feel better buying from Starbucks now that they support fair trade.
Source:
http://www.starbucks.ca/responsibility/sourcing/coffee
Photo source:
http://persephonemagazine.com/2013/01/is-fair-trade-a-fair-deal/starbucks-fair-trade-ad/