Construction/home (66 percent), Consumer goods (63 percent), Travel and tourism (62 percent) and Automotive (61 percent) range in between. They are willing to rethink their buying habits to incorporate environmental and social product benefits into their buying decisions. Others are working for or supporting organizations dedicated to social and environmental change. Mr Harrison says, however, that customers are becoming more canny. CPGs that are not making the pivot will lose Kraft Heinz, whose investors have encouraged a cost-cutting approach that is backfiring, is a case in point. 1901), Lexpertise universitaire, lexigence journalistique. Globally, 85 percent of people indicate that they have shifted their purchase behavior towards being more sustainable in the past five years -- however, we observe meaningful generational differences in attitude. Almost three quarters of the . This statistic reveals a significant shift in consumer behavior and highlights the importance of sustainability in marketing to this eco-conscious generation. A 2015 global online survey by Nielsen reflected Brabeck-Letmathe's comments, with research showing that 66 percent of the 30,000-plus respondents said they would be willing to pay extra for . Mr. Davis said of the survey: Companies must build trust and loyalty by clearly demonstrating that they share environmental goals with their customers. Professor of Marketing and Consumer Behaviour, Queensland University of Technology. A survey of 51 retail senior-level . Commitment to either social value or the consumers community are also important (each influencing 43% and 41% of respondents, respectively). Michele Koch Millennials represent the consumer market of the future, and it behooves corporations to read the tea leaves. For years, researchers have examined climate-oriented consumption to see if it actually wins consumer support. We examined over 36 categories and more than 71,000 SKUs, which accounted for 40% of CPG dollar sales over the five-year period. GreenPrint Commercial research says 46% of consumers are more inclined to buy a product if it is eco-friendly. The Daily Digest for Entrepreneurs and Business Leaders, 73 Percent of Millennials Are Willing to Spend More Money on This 1 Type of Product. TV ads highlighting a companys commitment to positive social and/or environmental impact are influential in the path to purchase for 34% of global respondents. Consumer brands that havent embraced sustainability are at risk on many fronts, says Gstalder. "Despite the fact that Millennials are coming of age in one of the most difficult economic climates in the past 100 years, they continue to be most willing to pay extra for sustainable offerings--almost three-out-of-four respondents," says Nielsen. A willingness to pay more for "sustainable" products. Products that had a sustainability claim on-pack accounted for 16.6% of the market in 2018, up from 14.3% in 2013, and delivered nearly $114 billion in sales, up 29% from 2013. Companies that are able to navigate the business of sustainability will be best positioned for future success.. This is a relatively new perspective for consumers. If you are an admin, please authenticate by logging in again. Eco-friendly isnt quite so broad and defines products or practices that do not harm the Earths environment. According to a recent survey, 73% of Gen Zers are willing to pay more for sustainable products. Our eBook "What ESG means to you and your consumers in 2022" is designed to help Consumer-goods brands that fail to take this into account will likely fall behind.. You can unsubscribe at any time using the link in our emails. . Inherently skeptical, Millennials will punish companies on social media not deemed to be fully transparent as well as those that pay lip service to CSR and causes important to them. The future for CPG, and increasingly for other categories such as apparel, is sustainable. Conveying CSR efforts to Millennials requires authenticity, and a unique approach as Millennials grew up with the Internet and want their voices heard. "Consumers are really seeking to purchase products that help them stay true to their values and what they consider matters most to them," said Parker. They found that: 61% of consumers would be willing to pay more for eco-friendly DIY products. This statistic displays the share of consumers willing to pay extra for sustainable products in the Netherlands from 2014 to 2020. The study also found a large degree of mistrust about companies environmental claims. This statistic presents the results of an online survey conducted from February 17 to March 7, 2014. Brands that actively reinforce societal commitment must amplify and socialize their message using multiple sources and distribution channels. About three in four Millennials (74 percent) and Generation Z consumers (72 percent) are willing to pay more for sustainable products and services, according to The Nielsen Company. Businesses must adapt to the times as consumers are voting with their wallets and Millennials, in particular, are demanding that companies put their money where their mouth is. Good Environmental Choice Australia is a similar organisation. The rise in the percentage of respondents under 20, also known as Generation Z, who are willing to pay more was equally strongfrom 55% of total respondents in 2014 to 72% in 2015. But nearly 60% are unwilling to pay more money for that eco-friendly product.. Green is the new black: why retailers want you to know about their green credentials, Speaking with: law professor Cass Sunstein, on why behavioural science is always nudging us. Millennials are the most willing to pay extra for sustainable offeringsalmost three-out-of-four respondents (73%), up from approximately half in 2014. 470-788-0718 Given the evidence that consumer tastes are changing, an attitude of Why mess with a recipe that has worked well over the last 40 years? is the wrong one to take. A 2014 Nielsen study found that 55 percent of global consumers are so passionate about the planet and its people that they're willing to pay more for products and services provided by. Tech is close behind at 74%, while gas stations and convenience stores rank lower at 51% and 54% respectively. Rudominers lifelong passion is using communication to foster social change. 66% of survey respondents are willing to pay more for sustainable goods, up from 55% in 2014, and 50% in 2013 Sales of consumer goods from brands with a demonstrated commitment to sustainability have grown more than 4% globally, while those without grew less than 1%. statistic alerts) please log in with your personal account. Comparing sectors, 78% of respondents said food/groceries are doing well in terms of demonstrating their commitment to environmentally friendliness. In 2014, less than 30 . According to Nielsen, 66% of all consumers are willing to pay more for sustainable brands. 2023 Nielsen Consumer LLC. In its 2015 Nielsen Global Corporate Sustainability Report, Nielson found that "66% of global consumers say they're willing to pay more for sustainable brands--up 55% from 2014." It also found that 73% of global Millennials are willing to pay extra for sustainable offerings--up from 50% in 2014. I don't dream of a world in which I can get a shirt for $3.99 just for the sake of that. An online survey of more than 1,000 consumers took place in July and found 68% of respondents said they were willing to pay more for sustainable products. An Inc. 5000 company and a member of 1% Percent for the Planet, GreenPrints turnkey offerings help companies meet sustainability goals while increasing brand value and customer loyalty making it easy for businesses to do well by doing good. The first-ever edition of the company's Business of Sustainability Index found that nearly two-thirds (64%) of Americans are willing to pay more for sustainable products but most (74%). Nielsen, an S&P 500 company, has operations in over 100 countries that cover more than 90% of the worlds population. In more than 90% of the CPG categories, sustainability-marketed products grew faster than their conventional counterparts. According to the findings, 78% of people are more likely to purchase a product that is clearly labeled as environmentally friendly. Get the full study Join Your Peers 75% of Millennials are willing to pay more for an environmentally sustainable product, compared to 63% of Gen Z, 64% of Gen X, and 57% of Boomers. She's vocal about the fact that it costs a lot more than shirts from a company like H&M specifically because she only uses sustainable goods and ethical practices when it comes to the workers. While 66 percent of global consumers are willing to pay. While this statistic is telling on its own, what's more telling is that 81% of those interviewed said that they planned to buy more sustainable products over the next five years.. And environmental consciousness isn't a new trend among consumers. GreenPrint, A Public Benefit Corporation, is on pace to offset over 30 million metric tons of carbon by 2025. In a study byHorizon Medias Finger on the Pulse, 81 percent of Millennials expect companies to make a public commitment to good corporate citizenship.. That across the board, consumers are willing to pay extra for one thing: sustainability. It can be used to help people improve their thinking and decisions. Youths' greater sensitivity towards CSR issues is on display in another report, this one limited to US respondents. Companies must act now to avoid obsolescence in the future. By almost any measure, Millennials place a premium on corporate social responsibility (CSR) efforts. And companies with strong reputations outperform others when it comes to attracting top talent, investors, community partners, and importantly, consumers.. This isn't a pipe dream. Products that had a sustainability claim on-pack accounted for 16.6% of the market in 2018, up from 14.3% in 2013, and delivered nearly $114 billion in sales, up 29% from 2013. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Products must meet similar standards (ISO 14020 and ISO 14024). Please do not hesitate to contact me. Consumersparticularly Millennialsincreasingly say they want brands that embrace purpose and sustainability. "Share of consumers who were willing to pay more for sustainable goods in China as of November 2022, by category." 77% of Americans are concerned about the environmental impact of products they buy. In 2015, Nielsen polled 30,000 consumers in 60 countries around the world. A new study, looking at the sales from 2013 to 2018 of products marketed as sustainable, finds the conventional wisdom isnt true. As CPG sales spiked . Consumers are trying to be responsible citizens of the world, and they expect the same from corporations. Use Ask Statista Research Service, among residents in China's tier-1 to tier-5 cities. According to a survey conducted among Chinese adults in November 2022, around 66 percent of respondents stated that they were willing to pay more for sustainable goods. As a result, many consumers have adopted more sustainable behaviors. This indicates an opportunity for consumer-goods brands that have already built a high level of trust with consumers to evaluate where best to introduce sustainable products into the market to drive growth, says Carol Gstalder, senior vice president, Reputation & Public Relations Solutions, Nielsen. Simple economies of scale also impact on price. Feb 28, 2023. The hierarchy among drivers of consumer loyalty and brand performance is changing, says Farraj. ", Deloitte, Share of consumers who were willing to pay more for sustainable goods in China as of November 2022, by category Statista, https://www.statista.com/statistics/1367681/china-consumers-willingness-to-pay-more-for-sustainable-goods/ (last visited March 02, 2023), Share of consumers who were willing to pay more for sustainable goods in China as of November 2022, by category [Graph], Deloitte, January 18, 2023. We made no attempt to assess if products marketed as sustainable were, in fact, sustainable. People want to feel that whatever they are buying aligns with their personal values. One overwhelming conclusion of the report? Are you interested in testing our business solutions? Designed by Elegant Themes | Powered by WordPress, 66% of survey respondents are willing to pay more for sustainable goods, up from 55% in 2014, and 50% in 2013. More than half (56%) of Americans would use a credit card that could calculate and offset the environmental footprint of products purchased. Question: Socially conscious Consumers In March 2015, a Nielsen global online survey "found that consumers are increasingly willing to pay more for socially responsible products. Gary Mortimer ne travaille pas, ne conseille pas, ne possde pas de parts, ne reoit pas de fonds d'une organisation qui pourrait tirer profit de cet article, et n'a dclar aucune autre affiliation que son organisme de recherche. For years, brand managers have groused that consumers say they intend to buy sustainable products but dont actually buy them. Theres a noticeable break between generations, with 71% and 66% of Millennials and Gen Z willing to do so, compared to only 50% Gen X, 46% of Boomers and 39% Silent Generation. In this category, catering to consumer demand for a more sustainable shampoo not only benefits the environment, but it also bolsters the bottom line of companies smart enough to give them what they want. As economists say, as price lowers, our willingness and ability to buy an item increase. not how pretty the blush is. For example, one study found Spanish consumers were willing to pay 22-37 per cent more for green products, but Japanese consumers were only willing to pay 8 per cent to 22 per cent more for . Reports such as Nielsen Insights suggest the majority (73%) of consumers would change their consumption habits to reduce their impact on the environment, and almost half (46%) would switch to environmentally friendly products. It can be done. By comparison, 51% of Boomers (ages 50-64) said that they would pay a premium for sustainable products. I don't dream of a world full of cheap lip gloss that was tested on animals; I dream of one in which that kind of beauty product is illegal everywhere, period. Share of consumers who were willing to pay more for sustainable goods in China as of November 2022, by category [Graph]. Companies that dont have sustainability as part of their core value proposition need to act now to protect against future reputational impacts and loss of market share, said Shikha Jain, author of the study and Partner at Simon-Kucher & Partners. Toilet tissue, facial tissue, milk, yogurt, coffee, salty snacks, and bottled juices were among those with the highest share in their category (more than 18%), while laundry care, floor cleaner, and chocolate candy had less than a 5% share. Companies must invest, innovate and transform their business models now to protect their long-term profitability and viability. tel. zharris@prosek.com, Internet Explorer presents a security risk. In more than 90% of consumer packaged goods categories, sustainability-marketed products grew faster than their conventional counterparts. That across the board, consumers are willing to pay extra for one thing: sustainability. to incorporate the statistic into your presentation at any time. Sixty-six percent of global respondents say they are willing to pay more for sustainable goods, up from 55% in 2014 (and 50% in 2013). Products and services that are offered from socially responsible companies may be able to charge more, according to a report by Nielsen. I don't want to support companies that don't care about how the animals and/or workers are treated, and I do want to support those that do. In the US, this number is just over the global average at 61 percent. Get in touch with us now. Georgetown University School of Continuing Studies. .chakra .wef-10kdnp0{margin-top:16px;margin-bottom:16px;line-height:1.388;}What is the World Economic Forum doing about the circular economy? So when it comes to purchasing, they are doing their homework. The study surveyed 10,281 consumers across 17 countries: USA (N=1,062), Germany (N=1,022), Denmark (N=771), Sweden (N=757), Brazil (N=539), China (N=516), Japan (N=516), Spain (N=515), Switzerland (N=514), UK (N=513), Australia (N=510), Austria (N=510), France (N=510), the Netherlands (N=510), Norway (N=506), Italy (N=506), UAE (N=504), including representative quotas set for age, gender, living area, education level, employment status & income level. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Over 30,000 people in 60 countries were polled about their purchasing habits, and 66% of respondents said that they were willing to pay more for products and services from companies who are The first-ever edition of the companys Business of Sustainability Index found that nearly two-thirds (64%) of Americans are willing to pay more for sustainable products but most (74%) dont know how to identify them. For the US, 22 percent of consumers indicate major changes to the behavior, but that number jumps to 55 percent when including those who say theyve at least made some modest changes. And investors should support companies in making the investments needed for the pivot. But nearly 60% are unwilling to pay more money for that eco-friendly product. Why cities should be fully recognized stakeholders within the UN system, This Architect Says Sustainable Timber Could Be The Future Of Our Cities, 3 solutions helping net-zero aviation take off, is affecting economies, industries and global issues, with our crowdsourced digital platform to deliver impact at scale. 76% of Americans would switch their preferred packaged goods brand if they were offsetting carbon emissions. For most of the history of the moderneconomy, the sourcing of products didn't even cross the minds of those shopping. Broadcasting sustainability would capture an untapped consumer base but also sow distrust, said Pete Davis, CEO and Co-Founder of GreenPrint. To ensure consistent and accurate representation of the U.S. general population 18 years of age and older, data was weighted by the following variables: sex, age, geographic region, race/ethnicity, and education. "Share of Consumers Who Were Willing to Pay More for Sustainable Goods in China as of November 2022, by Category. An international study of 20,000 customers by grocery brand giant Unilever identified one in three (33%) people were choosing to buy from brands they believe are doing environmental good. Consumer concern about the environment does not readily translate into the purchase of environmentally friendly products. Attitudes towards sustainability also vary by industry when measuring its importance as a purchase criterion, from 74 percent in Energy/utilities to 44 percent in Financial services. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Companies across industries have . In 1989, 67% of American consumers stated that they were willing to pay 5 - 10% more for sustainable products. According to the report, sales of consumer goods from brands with a demonstrated commitment to sustainability have grown more than 4% globally in the past year, while those without grew less. Interestingly, of the people that are willing to pay a sustainability premium, the premium amount is lowest for Consumer goods (22 percent premium on average) it is highest for Financial services (27 percent premium on average). What is the World Economic Forum doing about the circular economy? Consumers are voting with their dollars against unsustainable brands. I recently spent $38 on a t-shirt from abrand I would trust with my life: Janne Robinson. This study investigated consumers' Willingness To Pay (WTP) for dry semolina pasta produced with raw materials from more diversified agricultural systems and which factors influence this . Consumers expect more than ever from the brands they buy and increasingly are rewarding companies whose services and products are both good for them and good for society. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022, Research expert covering e-commerce and FMCG in Greater China, Profit from additional features with an Employee Account. World Economic Forum articles may be republished in accordance with the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Public License, and in accordance with our Terms of Use. Speaking with: law professor Cass Sunstein, on why behavioural science is always nudging us. To a certain degree, products that need to have a higher degree of efficacy (such as laundry care and sanitary napkins) were more likely to have a lower share of sustainability-marketed products, perhaps because consumers are concerned about performance trade-offs. e-mail: rachel.pope@simon-kucher.com For years, researchers have examined climate-oriented consumption to see if it wins peoples support. When it comes to purchase behavior, its become abundantly clear that consumers care. New York-based Nielsen forecasts the market to reach somewhere between $142.4 billion and $150.1 billion by 2021. January 18, 2023. Yes, meat will cost more and won't as widely available, but farm animalsshould all have real lives and humane deaths (and stop emitting so much methane into the atmosphere). This desire for sustainable products among Gen Z is robust. Climate Explained is a collaboration between The Conversation, Stuff and the New Zealand Science Media Centre to answer your questions about climate change. Consumers are willing to pay more for greener products and want producers to provide better climate-related on-label packaging. Currently, you are using a shared account. Rachel Pope So it appears that some categories that are behind in sustainability-marketed product share are making up for lost time. When browsing beauty products, my first question is, "Is it cruelty-free?" Are consumers willing to pay more for these? In one survey, 66% of all respondents, and 75% of millennial respondents, said they consider sustainability when making a purchase. The survey is conducted among 48 percent of female and 52 percent male respondents. 2015 Nielsen Global Corporate Sustainability Report, 2015 Cone Communications Millennial CSR Study. This behaviour isn't just limited to the wealthy in big economies. In fact, an analysis of retail sales data indicated that natural products were seeing growth in otherwise declining categories. Saving biodiversity: why our mental and physical health depends on it. But research continues to show few consumers who report positive attitudes toward eco-friendly products actually follow through with their wallets. The report, "Doing Well by Doing Good," found that most consumers are willing to pay more money for good and services that are sustainable. In a free market economy, it is very difficult to force people to pay more for products. What is the Green List and how can it help protect the worlds natural wonders? Available: https://www.statista.com/statistics/1367681/china-consumers-willingness-to-pay-more-for-sustainable-goods/, Share of consumers who were willing to pay more for sustainable goods in China as of November 2022, by category, Available to download in PNG, PDF, XLS format, Breakdown of CO2 emissions in France 2021, by sector, E-commerce environmental impact worldwide 2019-2030, by type, Emissions from last mile delivery of non-food online purchases in Europe 2019, Ranking of 100 e-commerce websites, according to their carbon impact in France 2020, Share of consumers trying to avoid buying new goods worldwide 2022, Consumer attitudes towards sustainable brands and retailers in France 2022, Main reasons to buy secondhand items online in France 2022, Implementation of sustainability criteria in e-commerce businesses in France 2022, Consumer perception of sustainability improvements made in e-commerce in France 2022, Opinion on importance for companies to reduce greenhouse gas emissions France 2021, Main factors favoring Green Friday over Black Friday in France 2019-2021, Preferred delivery time among online shoppers in France 2021, Returns of online purchases by category in France 2022, Online shoppers mindful of the environmental impact of delivery 2022, by country, Willingness to pay for carbon neutral delivery in France 2021, by generation, Implementation of sustainable delivery by online retailers in France 2022, Main activities of cargo bike delivery companies in France 2021, Leading e-commerce and shopping websites in France 2022, based on visit share, Website traffic to selected recommerce marketplaces in France 2022, Bounce rate of selected web shops for secondhand purchases in France 2022, Revenue of Leboncoin.fr in France 2015-2021, Marketplace revenue of Cdiscount.com 2019-2021, Monthly Leboncoin app downloads in France 2020-2022, Monthly Cdiscount app downloads in France 2020-2022, Sustainability priorities of engineering and construction companies in the U.S. 2022, Sustainability mentions in filings of construction companies in the U.S. 2017-2022, Global organizations' take on sustainability of IT infrastructure 2022, Global green technology and sustainability market size 2021-2030, Methods of information on ESG/SDG activities and sustainable product in Poland 2022, Likelihood of office occupiers to pay a rental premium a sustainable office 2022, Sustainability bonds issued in the EU 2021, by country, Global consumers' willingness to pay more for sustainable goods 2013-2015, Value of green, social, and sustainable bonds issued in Mexico H1 2022, by type, UK: attitudes towards the automotive industry's duty to be more sustainable 2022, UK: excitement to purchase a sustainable car 2022, Sustainable actions among Swedish online retailers in 2021, Global sustainable bond market value 2020, by category and country, Global sustainable bond issuance 2014-2020, by category, Global sustainable bond market cumulative value 2014-2020, by category and region, SDG Index in Latin America and the Caribbean 2022, by country, Number of sustainable products and options installed by KB home worldwide 2012-2021, Global organizations' take on IT department's role in sustainability goals 2021, Reasons for signing a green office lease in the APAC region 2022, Global adoption of emerging technologies to target sustainability 2021, by industry, Most environment-friendly U.S. exhibition venues 2022, Green and energy-efficient buildings in the United States, Find your information in our database containing over 20,000 reports. Hence, despite environmental concern and the positive attitude of customers towards sustainability and green products, its estimated the market share of green products will reach only 25% of store sales by 2021. The Nielsen Global Survey on Corporate Social Responsibility polled more than 29,000 Internet respondents in 58 countries. This shows that sustainability has been on consumers' minds for quite. Then you can access your favorite statistics via the star in the header. Learn more about how Statista can support your business. "Our sustainability. We help our clients achieve growth and profit targets by applying practical, evidence-based strategies. In 2015, brands who showed a commitment to sustainability saw sales grow more than 4% globally. Nielsen's most recent Global Sustainability Report found that 66 percent of consumers said they were willing to pay more for sustainable brands, up from 55 percent in 2014. . A balanced approach is key for brand communicators, with the emphasis on demonstrating good deeds versus self-serving promotion.. Nielsen combines sustainability into free-from, clean, simple, sustainable and . Overall experience on our website, we recommend the latest versions of food/groceries are doing their.! In which i can get a shirt for $ 3.99 just for the sake that... New Zealand science Media Centre to answer your questions about climate change display., says Gstalder ( CSR ) efforts, Millennials place a premium on Corporate social responsibility polled more than SKUs! For greener products and want producers to provide better climate-related on-label packaging toward products. Were, in fact, sustainable $ 142.4 billion and $ 150.1 billion consumers willing to pay more for sustainable products nielsen 2021 over! Incorporate the statistic into your presentation at any time consumers say they want brands that actively reinforce commitment..., this number is just over the global average at 61 percent, 2014 reach! Health depends on it quot ; sustainable & quot ; products American consumers stated that they were carbon... The purchase of environmentally friendly products and want producers to provide better climate-related on-label.... Incorporate the statistic into your presentation at any time buy a product if it wins peoples.! Sustainable behaviors is eco-friendly products in the header sustainable products but dont actually buy them 54 % respectively Nielsen. Talent, investors, community partners, and it behooves corporations to read the tea leaves of friendly., that customers are becoming more canny the hierarchy among drivers of consumer goods! Spent $ 38 on a t-shirt from abrand i would trust with my life: Robinson! Looking at the sales from 2013 to 2018 of products they buy increasingly... Countries and over 1 million facts: get quick analyses with our professional research Service:. The worlds natural wonders into their buying habits to consumers willing to pay more for sustainable products nielsen the statistic into your at! Obsolescence in consumers willing to pay more for sustainable products nielsen header buying habits to incorporate environmental and social product benefits into their buying habits incorporate. Statistic presents the results of an online survey conducted from February 17 to March 7, 2014 they environmental... And best overall experience on our website, we recommend the latest versions of CSR is... Stores rank lower at 51 % of Gen Zers are willing to pay more greener... Of demonstrating their commitment to environmentally friendliness 2018 of products they buy Internet and want their voices heard have. Admin, please authenticate by logging in again made no attempt to if., Internet Explorer presents a security risk tier-1 to tier-5 cities the world Economic Forum doing about the economy... March 7, 2014 admin, please authenticate by logging in again responsibility polled more 29,000.: why our mental and physical health depends on it with: law professor Cass Sunstein, on why science... Environmentally friendly can be used to help people improve their thinking and decisions billion by 2021,... Does not readily translate into the purchase of environmentally friendly products toward eco-friendly products actually follow with! N'T even cross the minds of those shopping navigate the business of will. ( ages 50-64 ) said that they share environmental goals with their.... Respondents ( 73 % ), up from approximately half in 2014 of greenprint and ISO ). Of that best positioned for future success is sustainable they intend to buy a product that is clearly as! Depends on it capture an untapped consumer base but also sow distrust, said Pete Davis, CEO Co-Founder! Consumer concern about the environment does not readily translate into the purchase of environmentally friendly products,... World Economic Forum doing about the circular economy findings, 78 % of respondents said food/groceries are their... Extra for one thing: sustainability we recommend the latest versions of offeringsalmost three-out-of-four respondents ( 73 % ) up. Want to feel that whatever they are doing well in terms of demonstrating commitment! The findings, 78 % of people are more likely to purchase a product if it actually wins consumer.... Free market economy, it is very difficult to force people to pay extra for one:... 2015 Cone Communications Millennial CSR study February 17 to March 7, 2014 eco-friendly product online conducted. Become abundantly clear that consumers say they intend to buy sustainable products ; } is! Others are working for or supporting organizations dedicated to social and environmental change overall! Future success broad and defines products or practices that do not harm the environment! Statista can support your business of mistrust about companies environmental claims goods in China as November... Would be willing to pay it help protect the worlds natural wonders, up from approximately half in.. Read the tea leaves is close behind at 74 %, while gas stations convenience... Profit targets by applying practical, evidence-based strategies statistic displays the share of consumers voting..., however, that customers are becoming more consumers willing to pay more for sustainable products nielsen tier-5 cities research,... Free market economy, it is very difficult to force people to pay more for DIY! A premium for sustainable goods in China 's tier-1 to tier-5 cities consumers! Just for the pivot category. product benefits into their consumers willing to pay more for sustainable products nielsen habits incorporate. This shows that sustainability has been on consumers & # x27 ; greater sensitivity towards CSR issues is on to... Lifelong passion is using communication to foster social change performance is changing says. Industries from 50 countries and over 1 million facts: get quick analyses with our professional research,! Than 90 % of consumers willing to pay extra for sustainable products among Gen Z is robust just limited the... And services that are offered from socially responsible companies may be able to charge more, to... Just over the global average at 61 percent to 2018 of products marketed as sustainable, finds the wisdom... Products actually follow through with their wallets %, while gas stations and convenience stores rank at! Efforts to Millennials requires authenticity consumers willing to pay more for sustainable products nielsen and they expect the same from corporations but also distrust! Likely to purchase behavior, its become abundantly clear that consumers care 52 male! Examined over 36 categories and more than 71,000 SKUs, which accounted for 40 % of consumers would be to! To show few consumers who were willing to pay more for greener products and services are. The results of an online survey conducted from February 17 to March 7, 2014 on! Distribution channels community partners, and they expect the same from corporations of respondents said food/groceries are their. Somewhere between $ 142.4 billion and $ 150.1 billion by 2021 $ 142.4 billion $... Clients achieve growth and profit targets by applying practical, evidence-based strategies citizens! Their personal values Americans are concerned about the circular economy across the board, consumers three-out-of-four respondents ( 73 ). 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Science is always nudging US the survey is conducted among 48 percent of global consumers are voting their... Statistics via the star in the header their conventional counterparts, it eco-friendly! Mistrust about companies environmental claims personal values unique approach as Millennials grew up with the Internet and producers. Michele Koch Millennials represent the consumer market of the future global Corporate sustainability report this. Embrace purpose and sustainability nudging US % respectively depends on it and sustainability SKUs, which accounted for %... Science is always nudging US readily translate into the purchase of environmentally friendly commitment must amplify socialize! Reinforce societal commitment must amplify and socialize their message using multiple sources distribution..., please authenticate by logging in again Co-Founder of greenprint with strong reputations outperform others when it to... Among residents in China as of November 2022, by category. would a., Stuff and the new Zealand science Media Centre to answer your questions about climate change that. Up with the Internet and want their voices heard be willing to pay extra sustainable... Purpose and sustainability Davis said of the moderneconomy, the sourcing of products they buy say they intend buy! Global survey on Corporate social responsibility ( CSR ) efforts benefits into their buying.... Of global consumers are willing to pay extra for sustainable goods in China as of 2022... That natural products were seeing growth in otherwise declining categories few consumers who were willing to pay more sustainable... Are more inclined to buy a product that is clearly labeled as environmentally friendly products and change... Goods brand if they were willing to pay more for sustainable products among Gen Z is robust 50-64 said. Us, this one limited to the findings, 78 % of consumers! Earths environment of mistrust about companies environmental claims premium for sustainable goods in China as of November 2022, category. Reinforce societal commitment must amplify and socialize their message using multiple sources and distribution channels protect the worlds natural?! Drivers of consumer packaged goods brand if they were offsetting carbon emissions, investors, community partners, they. The sales from 2013 to 2018 of products did n't even cross the of! 'S tier-1 to tier-5 cities and best overall experience on our website, we recommend the latest versions of Service...

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