Four fifths (80%) of US consumers are more likely to trust companies that back up sustainability claims with publicly shared data, a new study by Specright has found.
The study also noted that 25% of consumers actively track government regulations around sustainability to better understand how it impacts their favourite brands and products.
At the same time, however, 69% of consumers don’t believe that companies are ‘accurately and honestly reporting on sustainability goals and metrics’, while 40% state that they are ‘not comfortable’ with purchasing products that are not tracking toward sustainability goals.
‘More to do’
“These results show consumers care about the sustainability of the products and packaging they purchase and the companies and brands they purchase from, and clearly companies have more work to do on this front,” said Matthew Wright, founder and CEO of Specright.
Elsewhere, more than half of consumers (58%) express a willingness to allocate more funds towards products considered sustainable or environmentally friendly.
Three quarters (74%) of consumers, meanwhile, state a higher inclination to buy from a company that openly communicates and is transparent about its sustainability practices.
The importance of data
“The results emphasise the importance of data and how it can influence a consumer’s decision to purchase products, and many organisations today lack the data to back up their claims or even correctly track and report on sustainability goals, which can negatively impact business,” Wright added.
“As we move into 2024, it’s imperative that companies organise and digitise critical product and packaging data to make reporting on sustainability as accurate as possible and even spark more sustainable product innovation.”
The survey targeted 1,000 consumers aged 21 and above in the United States. Participants identified themselves as primary purchasers in their households. The survey was finalised in November 2023.
