A new study by Clear Channel has found that one in ten older Gen Z and younger Millennial shoppers in the UK would be willing to pay as much as 50% more for a sustainable product, while 6% would be willing to pay between 51% and 60% more.
The UK-based study, which surveyed 2,000 respondents, found that regardless of age profile, close to one in three shoppers (30%) would be willing to pay at least 10% more for a product that displays sustainability credentials.
In addition, close to one in ten (9%) said that they ‘boycotted’ their go-to brands in the past year over sustainability-related concerns, and now only purchase products from sustainable brands.
Why brands should focus on sustainability
The survey asked respondents for the reasons why brands should focus on sustainability, with waste reduction (73%), being good for the planet (70%), spreading awareness (43%), enhancing brand reputation (31%) and trust (30%), increasing customer loyalty (25%) and competitive advantage (22%) cited as the most popular responses.
In terms of categories, food (38%), clothing (34%), toiletries/cosmetics (26%) and household items (25%) were cited as the areas in which respondents were most likely to buy sustainable brands.
Clothing is the leading sustainable purchase among 18-34-year-olds, with over half of 18-24-year-olds and 44% of 25-34-year-olds prioritising it. For older generations, food emerges as the top category, with a third of people aged 45 and older preferring sustainable options in this area.
At the same time, the high cost (62%) of sustainable products was cited as a negative factor towards purchasing said items, as was perceived low quality/effectiveness (20%), lack of awareness (10%) and limited availability (6%).
Some 17% of people check product labels for sustainability certifications, and nearly half of Brits (44%) express concerns about environmental issues, the study found.
‘High demand’ for sustainable products
“Our study has shown that while there is a high demand for sustainable products, one in five Brits rarely believe brand sustainability claims and around half only sometimes trust them,” commented Ben Hope, marketing director at Clear Channel.
“The data would suggest brands are not communicating their messaging effectively. We hope that our study will educate brands about sustainability-related expectations and how important it is for retailers to be aligned with consumers and encourage brands to embrace more effective communication strategies.” Read more here.
