New survey results show investors considering foreign-led ownership of Coles Myer should not worry about customer emotions based on the Aussie produce factor.

The results show that people believe Coles is just being strategic when it makes 'socially responsible' promises about sourcing more than 96% of fresh produce in Australia.

Survey respondents understood Coles' pledge as a means to boost customers and profit rather than a genuine sense of corporate social responsibility.

"The pledge is irrelevant, because consumers know it is generally easier and cheaper for Coles to buy the Aussie produce anyway," said Professor Gus Geursen (pictured) from Central Queensland University, one of the researchers behind the survey.

Professor Geursen and Research Fellow Evan Yabsley extracted the Coles data from a wider phone survey about the role that corporate values play for customers across different sectors. A total of 1200 Queenslanders were questioned to produce valid results.

The Coles data has become more interesting recently since US-based private equity consortium Kohlberg Kravis Roberts (KKR) proposed a takeover of the iconic Australian company and since commentators including Ausveg expressed concern about continuation of Coles' Aussie produce pledge.

The CQU research shows people rank Coles first in terms of 'customer care' by a significant margin over corporates from other sectors.

"Our research confirms that the average citizen recognises that Coles are indeed customer focused, but the reasons they make the promises they make are understood to be NOT for philanthrophic or stakeholder reasons. The public have perceived in a crystal-clear way, that Coles are doing it for themselves and their bottom line performance," Professor Geursen said.

"Australian investors in Coles may feel conflicted about allowing in a consortium from abroad because of the Aussie produce pledge ... hopefully this research will help them to feel a bit more comfortable with their dilemma".

The CQU professor said there was plenty of evidence that consumers expressed a preference for goods with social or environmental benefits. "However, when they get to the shop, they choose products on price or known effectiveness - it is all about utility for the customer ... it has to work for them," he said.

Across the various sectors, the survey indicated that Australians - across rural, town and city areas - are all awake to the promises of Australia's big corporates.