Corporate social responsibility for retail: A new spending habit

The COVID-19 pandemic impacted smaller, tourism-dependent nations such as Curaçao along with its Caribbean allies: Aruba, Bonaire, and Saint Martin. From 2019 to 2020, hotel stays plummeted 70%, and the aforementioned economies contracted by approximately 9.8% (IMF, March 12, 2021). On the other hand, commodity exporters like Trinidad only contracted by an estimated 0.2%; highlighting the dangers of tourism dependency. As a result, leaders, such as the Ministry of Economic Development of Curaçao, are reevaluating its methods regarding economic growth (IMF, March 12, 2021). This economic downturn in the Caribbean, particularly in Curaçao, is further exacerbated by Venezuela’s oil crisis, in which this Dutch Isle could no longer so heavily rely on its oil refineries. 

Curaçao’s economic future following the loss of tourism revenue due to the Covid-19 pandemic includes the construction of new economic channels through which local Caribbean goods are more readily available to its key markets of the United States, the Netherlands, and the European Union. This reconstruction is supported by the foundational pillar of corporate social responsibility (CSR), giving with purpose. 

The combination of e-commerce and giving makes for quite the dynamic duo; according to a Cone Communications Study in 2010, 90% of consumers want companies to showcase which causes they support and how (Cone Communications, 2010). Moreover, a later Cone Communications study in 2018 highlighted that 85% of consumers would wholeheartedly support a business that granted its customers the opportunity to do good with their sales. In this way, companies that integrate CSR into their business models will likely see much higher customer engagement and retention levels.

The country of Curaçao is taking note of these consumer trends and has chosen to apply them to its own e-commerce industry through its adoption of Sparo’s Azure-backed CSR plug-in. The shopping portal, www.tropicshopping.com, is launching with more than 300 CSR-powered merchants across Curaçao and the Caribbean, offering their products or services and pledging to donate a portion of every sale to a Caribbean charity of the customer’s choosing - all done through Sparo’s Azure-hosted CSR plug-in! Being based on Azure, means the Sparo plugin is supported by the best-in-class standards and services for security, scalability, and transactional volume to meet the demands of the retail industry.

This CSR movement, catapulted by the innovative and progressive nation of Curaçao, is yet another expression of this CSR plug-in’s potential; its capacity to be adopted as a worldwide spending habit.

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