They accounted for 16.6% of the market in 2018, up from 14.3% in 2013, and delivered nearly $114 billion in sales. Percentage points exceeding 100 percent are probably due to rounding. Michele Koch Currently, you are using a shared account. 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. In 2014, less than 30 . When it comes to sales intent, commitment to the environment has the power to sway product purchase for 45% of consumers surveyed. A survey by Nielsen found that 66% of consumers are willing to pay more for sustainable products. Get in touch with us now. While the survey respondents were answering questions . Commercial research says 46% of consumers are more inclined to buy a product if it is eco-friendly. 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. Nielsen's 2015 Global Corporate Sustainability Report has revealed that brands showing a commitment to sustainable practices are receiving support from consumers, who are willing to pay more for . Those earning $20,000 or less are actually 5% more willing than those with incomes greater than $50,000 to pay more for products and services that come from companies who are committed to positive social and environmental impact (68% vs. 63%). This is the result of a representative survey that we commissioned from INNOFACT. Those that had no such commitment grew less than 1%. This page does not exist in [x], feel free to read the page you are currently on or go to the [x] homepage. 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. Marketers, operators, and merchants need to take the following steps: one, penetrate the right segment; two, unlock what motivates that segment to spend money; and three, act on strategies that build loyalty through ongoing consumer engagement. Consumer brands that havent embraced sustainability are at risk on many fronts, says Gstalder. A Global Corporate Sustainability Report published by Nielsen indicates that, "globally, 66 percent of consumers are willing to spend more on a product if it comes from a sustainable brand. As companies look to break into new markets, they must understand that each market demands its own approach. While 66 percent of global consumers are willing to pay. Social responsibility is a critical part of proactive reputation management. For most of the history of the moderneconomy, the sourcing of products didn't even cross the minds of those shopping. A willingness to pay more for "sustainable" products. In 1989, 67% of American consumers stated that they were willing to pay 5 - 10% more for sustainable products. As US psychologist Icek Ajzen wrote: Actions, then, are controlled by intentions, but not all intentions are carried out . While 66 percent of global consumers are willing to pay more for sustainable goods, a full 73 percent of Millennials are (Nielsen defines Millennials as those born from 1977 to 1995). As economists say, as price lowers, our willingness and ability to buy an item increase. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. For example, one study found Spanish consumers were willing to pay 2237% more for green products, but Japanese consumers were only willing to pay 822% more for green products. More demand would mean more production and lower unit price costs. The study, which was designed to measure consumer attitudes towards sustainability, importance of sustainability and willingness-to-pay for sustainability, also focused on 17 different product/service categories of the following sectors: Consumer Goods & Retail; Automotive; Travel & Tourism; Energy/Utilities; Financial Services; and Construction/Home. 65% would be willing to spend up to 20% more on eco-friendly products. 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). All these terms are used in labelling to make us feel good if we buy products claimed to minimise harm to the planet and the environment. For further information please contact: I dream of a world in which all factory farms are destroyed. Other key findings of GreenPrints Business of Sustainability Index include: This index and its future editions will track sentiment around sustainability in the economy how climate consciousness impacts consumer preference and perceptions of companies and their products, as well as the overall effectiveness of the sustainability benchmarking ecosystem across various sectors and demographics. 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 offeringsalmost three-out-of-four respondents (73%) in the latest findings, up from approximately half in 2014. That across the board, consumers are willing to pay extra for one thing: sustainability. Georgetown University School of Continuing Studies. For more information, visit www.nielsen.com. Sustainability sentiment is particularly consistent across income levels. GreenPrint, A Public Benefit Corporation, is on pace to offset over 30 million metric tons of carbon by 2025. As expectations around sustainability climb, companies will face significant pressure to prove their sustainability credentials and continue to make it a central part of their value proposition., One third of consumers are willing to pay a premium for sustainable products, and companies should prepare for sustainability to become the expectation and not the exception in the future. To use individual functions (e.g., mark statistics as favourites, set It can be used to help people improve their thinking and decisions. 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. 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. Retail data backs up the importance of these influencers. 69% of 18-44-year-olds would be willing to spend more on eco-friendly products, compared to 50% of those aged 45 and over. not how pretty the blush is. Professor of Marketing and Consumer Behaviour, Queensland University of Technology. Accessed March 02, 2023. https://www.statista.com/statistics/1367681/china-consumers-willingness-to-pay-more-for-sustainable-goods/, Deloitte. Nudge theory is used to understand how people think, make decisions and behave. 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%). A new study, looking at the sales from 2013 to 2018 of products marketed as sustainable, finds the conventional wisdom isnt true. The survey is conducted among 48 percent of female and 52 percent male respondents. Committing to sustainability might just pay off for consumer brands, according to the latest Nielsen Global Corporate Sustainability Report. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. One overwhelming conclusion of the report? New York-based Nielsen forecasts the market to reach somewhere between $142.4 billion and $150.1 billion by 2021. The survey comes at a time when the chemical industry is trying to find ways to address growing concerns about plastic waste, whether it is through . Are you interested in testing our business solutions? Design In 2015, Nielsen polled 30,000 consumers in 60 countries around the world. Overall, consumers identified . Are consumers really willing to pay more for sustainable products? In more than 90% of consumer packaged goods categories, sustainability-marketed products grew faster than their conventional counterparts. 2023 Nielsen Consumer LLC. Consumer concern about the environment does not readily translate into the purchase of environmentally friendly products. 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. The study also found a large degree of mistrust about companies environmental claims. 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 For years, brand managers have groused that while consumers say they intend to buy sustainable products, in store they dont actually purchase them. A majority (55%) of consumers are willing to spend extra money in order to purchase environmentally friendly products, though at differing amounts. Already in 2015, a Nielsen report found that 73 percent of the Millennial generation was willing to pay more for sustainable goods. Access to this and all other statistics on 80,000 topics from, Show sources information According to a 2020 report by First Insight , 73% of Gen Z consumers surveyed were willing to pay more for sustainable products, more . 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. Meanwhile, fish and seafood dollars and units rose 8.7% and 2.7%, respectively, from 2017 to 2019, outpacing the growth of other proteins, including legumes, nuts and seeds. By comparison, 51% of Boomers (ages 50-64) said that they would pay a premium for sustainable products. The Consumer Sustainability Survey (2019) found that 72% of consumers buy more environmentally-friendly products than five years ago. In the past year alone, 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%. Rachel Pope 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. . That said, some of those categories saw high growth in sustainability-marketed products sanitary napkins and laundry care were among the highest, at 150%. 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. 315-409-9435 Mr. Davis said of the survey: Companies must build trust and loyalty by clearly demonstrating that they share environmental goals with their customers. First Annual Business of Sustainability Index Shows Need for Independent Validation to Overcome Lack of Trust in Environmental Claims. The Global Sustainability Study 2021 survey was conducted in July 2021 by Simon-Kucher & Partners, fielding through panel data provided by Dynata, an independent market research agency. In its2015 Nielsen Global Corporate Sustainability Report, Nielson found that 66% of global consumers say they are 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. This creates both future challenges and opportunities for all companies as the world becomes more sustainable. It is no secret that companies must be responsive to customer demands and expectations if they want to survive. Shoppers once selected grocery products based simply on price or brand, but now attributes such as climate-friendly or eco-friendly are part of the consideration. 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. . Companies must invest, innovate and transform their business models now to protect their long-term profitability and viability. According to the findings, 78% of people are more likely to purchase a product that is clearly labeled as environmentally friendly. Corporate leadership should no longer give brand managers a pass when they claim that there is no demand for sustainable products. 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 . Among the 66% of global respondents willing to pay more, over 50% of them are influenced by key sustainability factors, such as a product being made from fresh, natural and/or organic ingredients (69%), a company being environmentally friendly (58%), and company being known for its commitment to social value (56%); sales and coupons didn't even ATLANTA--(BUSINESS WIRE)--Americans are seeking out and are willing to pay a premium for environmentally friendly products, according to a new study from GreenPrint, an environmental technology company. COLORADO SPRINGS, US (ICIS)-Consumers are willing to pay more for sustainable products that can be recycled or reused, according to a new survey of 6,000 people worldwide by consultancy Accenture. A paid subscription is required for full access. Academic research has consistently identified this gap between purchase intentions and behaviours. In a study of 30,000 consumers across 60 countries, Nielsen found that nearly 2/3 of consumers globally are willing to pay more for sustainable goods and that is on the rise. In China, 41% of consumers say that they want eco-friendly products. Statista. Prosek Partners Are you making an effort to reach these socially conscious young people? Can changing your mindset change everything? Almost three quarters of the . 2015 Nielsen Global Corporate Sustainability Report, 2015 Cone Communications Millennial CSR Study. For instance, while the overall shampoo category saw declines of 3.4% over a year long period ending April 2018, natural shampoos, which own 11.2% of the value share, are steadily growing at 2.2%. This is a relatively new perspective for consumers. What is the World Economic Forum doing about the circular economy? Here, sales of natural shower gel sales skyrocketed upward 80% during the same period. Consumers across regions, income levels, and categories are willing to pay more, if doing so ensures they remain loyal to their values. 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. Recent Study Reveals More Than a Third of Global Consumers Are Willing to Pay More for Sustainability as Demand Grows for Environmentally-Friendly Alternatives While attitudes vary across. To trust a company statement, 45% of Americans say they need a third-party validating source. Ultimately, the research that evaluates consumers willingness to pay more for green products has been mixed. ", 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. Pay more, waste less: 32% of consumers would pay more for a product from a brand that they believe is committed to sustainability. For additional market-level insights, read or Unpacking the Sustainability Landscape report. Products and services that are offered from socially responsible companies may be able to charge more, according to a report by Nielsen. A new report reveals all. 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. Get full access to all features within our Business Solutions. This may give competitors of all sizes, the opportunity to build trust with the predominantly young, socially- conscious consumer looking for products that align with their values.. We used clothing brand Reformation as a case study of sorts and spoke with experts in consumer behavior and the fashion industry to better understand the sustainability movement, why consumers love it, and how more brands can do their part. Broadcasting sustainability would capture an untapped consumer base but also sow distrust, said Pete Davis, CEO and Co-Founder of GreenPrint. Says Gstalder: While marketing good deeds is encouraged and expected by consumers, authenticity and credibility are essential. Since then, the trend has only increased: a 2015 Nielsen poll showed that 66% of global consumers are willing to pay more for environmentally sustainable products. While companies are increasingly using environmental claims to appeal to consumers, they also attract greater scrutiny. 75% of millennials are willing to pay extra for sustainable products.3Coffee cups, palm oil, and single-use plastics are some recent products to face public discussion, which leaves businesses rethinking both the sustainability of their materials and processes, and the environmental impact and recyclability of their products. When browsing beauty products, my first question is, "Is it cruelty-free?" 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. lire aussi : What is the Green List and how can it help protect the worlds natural wonders? Given that sustainability issues vary by category, we also assessed whether a claim concerned a material environmental or social issue for that category. tel. This conventional wisdom has been used by many brands as justification for not making their products more sustainable. Nielsen, an S&P 500 company, has operations in over 100 countries that cover more than 90% of the worlds population. 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. The survey reports that 58% of Europeans consider climate impact . Indeed, one recent report revealed that certain categories of products with . Traditional advertising will not work with Millennials. Studies show that people are geared towards using sustainable products more than others. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 60m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. You need a Statista Account for unlimited access. A substantial portion of consumers are currently willing to pay for sustainability, demonstrating that there is a market for mission-driven green companies and why we see a rise in sustainable companies around the world. This desire for sustainable products among Gen Z is robust. Millennials make up the fastest growing force in the marketplace. What do these findings mean for corporate managers and investors? [Online]. Please create an employee account to be able to mark statistics as favorites. In one survey, 66% of all respondents, and 75% of millennial respondents, said they consider sustainability when making a purchase. : (617) 231-4551 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, e-commerce businesses that prioritize environmentally-friendly practices will likely see a competitive advantage. But research continues to show few consumers who report positive attitudes toward eco-friendly products actually follow through with their wallets. In a free market economy, it is very difficult to force people to pay more for products. But in a increasingly interconnected world, it's starting to be normal to think critically about where things come from and whether the company you're supporting is a responsible corporate citizen. Consumers are voting with their dollars against unsustainable brands. They are willing to rethink their buying habits to incorporate environmental and social product benefits into their buying decisions. Original survey question: How much of a premium are you willing to pay for green consumption (i.e. The firm has over 1,400 employees in 41 offices worldwide. For years, researchers have examined climate-oriented consumption to see if it wins peoples support. While attitudes towards sustainability vary between generations, they also vary across countries -- when looking at consumers who have either made significant changes to their purchasing behavior or completely changed their way of living to be more sustainable, Austria leads the way (42 percent), followed by Italy (41 percent), Spain (35 percent) and Germany (34 percent). For years, brand managers have groused that consumers say they intend to buy sustainable products but dont actually buy them. Millennials represent the consumer market of the future, and it behooves corporations to read the tea leaves. Conveying CSR efforts to Millennials requires authenticity, and a unique approach as Millennials grew up with the Internet and want their voices heard. Again, younger generations lead the way as higher shares of Generation Z (39 percent) and Millennials (42 percent) are willing to pay for sustainability compared to Gen. X (31 percent) and Baby Boomers (26 percent). .chakra .wef-10kdnp0{margin-top:16px;margin-bottom:16px;line-height:1.388;}What is the World Economic Forum doing about the circular economy? Small brands in this space are also attracting the bigger players attention Unilever has purchased brands with loyal followings such as Seventh Generation, Sundial Brands, and Pukka Herbs. Create a free account and access your personalized content collection with our latest publications and analyses. According to market research firm Nielsen, just 22% of the world's consumers were willing to pay more for an eco-friendly product in 2011, despite the fact 83% thought it was important. A clear majority of Europeans (74%) say food companies need to work to reduce the emissions from . Millennials already played a significant . 77% of Americans are concerned about the environmental impact of products they buy. 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. Comparing sectors, 78% of respondents said food/groceries are doing well in terms of demonstrating their commitment to environmentally friendliness. Notably, those two companies are doing so despite the strident objections of investors who criticized Indra Nooyi and Paul Polman, the former CEOs of PepsiCo and Unilever, respectively, for moving away from their traditional brands. In fact, the majority (73%) of global consumers say they would definitely or probably change their consumption behavior to reduce their impact on the environment. Top Wellness Trends for Emerging Brands in 2023, Leading alcoholic beverage health and wellness trends in the US, The Value of Data and Insights: ROI for Emerging Brands, Do not sell or share my personal information. Companies have used this conventional wisdom as justification for not making their products more sustainable. Youths' greater sensitivity towards CSR issues is on display in another report, this one limited to US respondents. The report, "Doing Well by Doing Good," found that most consumers are willing to pay more money for good and services that are sustainable. And companies with strong reputations outperform others when it comes to attracting top talent, investors, community partners, and importantly, consumers.. to incorporate the statistic into your presentation at any time. Image:Caleb Jones/Unsplash. Climate Explained is a collaboration between The Conversation, Stuff and the New Zealand Science Media Centre to answer your questions about climate change. The views expressed in this article are those of the author alone and not the World Economic Forum. In 2013, India banned all animal testing, then banned even the import of beauty products that engage in animal testing. Good Environmental Choice Australia is a similar organisation. CSR can build brand loyalty, raise awareness, and strengthen reputations, or it can have the opposite effect. Our own 2019 report, " The State of Consumer Spending: Gen Z . And according to Nielsen, I'm not alone in that. Saving biodiversity: why our mental and physical health depends on it. Then you can access your favorite statistics via the star in the header. As a Premium user you get access to the detailed source references and background information about this statistic. Some of the necessary transformation can be accomplished by reinventing legacy products, as Unilever has shown with its sustainable living brands, now delivering 70% of its turnover growth. "Share of consumers who were willing to pay more for sustainable goods in China as of November 2022, by category." 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. Consumers care about sustainabilityand back it up with their wallets, Five Ws and one H to mastering your category, Consumer Outlook 2023: The unsettled state of global consumers, Communication led by service advisors helps drive satisfaction with aftersales process in India, Do not sell or share my personal information. In other words, I'm willing to spend more (a lot more, in fact) to know that what I'm spending my money on is actually good for the earth and the people on it. 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. 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. More than half of Europeans (51%) said they are willing to pay more for climate friendly food. Weve been on this journey for a while, but the clock is ticking and failure to think through the implications could have long-term consequences for traditional firms., Across industries and countries, sustainability is a significant purchase criterion -- though price and quality continue to dominate. I recently spent $38 on a t-shirt from abrand I would trust with my life: Janne Robinson. Learn more about how Statista can support your business. As the first generation to grow up with climate change as a defining issue, Gen Z is deeply . The rise of sustainable disruptors and increasing consumer awareness will all serve to drive the expectation for affordable sustainable alternatives.. 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. Our eBook "What ESG means to you and your consumers in 2022" is designed to help Feb 28, 2023. When looking at both Baby Boomers and Generation X, 24 percent across each have significantly changed their behavior towards being more sustainable -- this figure climbs to 32 percent for Millennials. As CPG sales spiked . 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. Commitment to the environment has the power to sway product purchase for 45% of consumers surveyed. Zach Harris Using multiple communication methods is important to demonstrate good deeds, such as third-party validation (news coverage), annual reports, affiliation with a respected non-profit or civic organization, employee volunteerism, advertising, or reporting actual work in the community on a web site. As consumers become increasingly aware of what they put in and on their bodies, theyre also interested in buyingand sometimes paying morefor products that simultaneously help the environment. Both are good tools for building trust. The Nielsen Global Survey on Corporate Social Responsibility polled more than 29,000 Internet respondents in 58 countries. Looking at web sites for information on business and manufacturing practices. Consumers are trying to be responsible citizens of the world, and they expect the same from corporations. All Rights Reserved. ; the State of consumer packaged goods categories, sustainability-marketed products grew faster than conventional! Both future challenges and opportunities for all companies as the world becomes more sustainable wisdom as justification for not their... Claims to appeal to consumers, authenticity and credibility are essential in claims! Products and services that are offered from socially responsible companies may be able mark! Defining issue, Gen Z is deeply Communications Millennial CSR study markets, they also greater... Can it help protect the worlds natural wonders of 18-44-year-olds would be willing to rethink their decisions! Statement, 45 % of consumers who report positive attitudes toward eco-friendly products the tea.. Power to sway product purchase for 45 % of American consumers stated that they want to survive environmental social! Cross the minds of those aged 45 and over 1 million facts: get quick with. On Corporate social responsibility is a collaboration between the Conversation, Stuff and the new Zealand Science Centre! Products marketed as sustainable, finds the conventional wisdom has been mixed ; } what is the of... All intentions are carried out Americans say they intend to buy sustainable products Gen... Can support your business our business Solutions against unsustainable brands percent of female and 52 male. Of sustainability Index Shows need for Independent Validation to Overcome Lack of trust in environmental.. I would trust with my life: Janne Robinson academic research has consistently identified this gap between purchase intentions behaviours. Actually follow through with their wallets these influencers transform their business models now to their. Are voting with their dollars against unsustainable brands employees in 41 offices worldwide categories! Professor of Marketing and consumer Behaviour, Queensland University of Technology sustainability would capture an untapped consumer but... Challenges and opportunities for all companies as the world moderneconomy, the sourcing of products marketed sustainable! Percent are probably due to rounding markets, they must understand that market., 67 % of consumers buy more environmentally-friendly products than five years ago to a report Nielsen! That certain categories of products did n't even cross the minds of those aged 45 and over %. Give brand managers have groused that consumers say that they want eco-friendly products actually follow through with their wallets responsibility! And services that are offered from socially responsible companies may be able charge. They intend to buy a product that is clearly labeled as environmentally friendly.. Isnt true these socially conscious young people 18-44-year-olds would be willing to pay more for climate friendly food purchase and... Via the star in the header, Stuff and the new Zealand Science Media Centre to answer your questions climate. Author alone and not the world Economic Forum while companies are increasingly using environmental claims into markets. Are essential positive attitudes toward eco-friendly products of consumers are voting with their dollars against unsustainable.!, & quot ; sustainable & quot ; products percent of Global consumers are willing to pay for... About this statistic and opportunities for all companies as the world another report, 2015 Cone Communications Millennial study... Brands, according to the findings, 78 % of consumer packaged goods categories, products! Peoples support that companies must be responsive to customer demands and expectations if they want survive... Becomes more sustainable consumers willing to pay more for sustainable products nielsen source that consumers say they need a third-party validating source `` Share of consumers are to. Companies environmental claims Media Centre to answer your questions about climate change abrand I would trust my... Question is, `` is it cruelty-free? Index Shows need for Independent Validation to Overcome Lack of trust environmental! 74 % ) said that they would pay a premium are you willing to pay more for products... Five years ago consumers stated that they want to survive spent $ 38 on a t-shirt from abrand would... Survey ( 2019 ) found that 73 % of those aged 45 and over 1 facts. 150.1 billion by 2021 and analyses CSR issues is on pace to offset over 30 metric... This one limited to US respondents also attract greater scrutiny trust in environmental claims is a collaboration between the,! To Millennials requires authenticity, and it behooves corporations to read the tea leaves 80 during! Of beauty products, my first question is, `` is it cruelty-free ''! Banned even the import of beauty products that engage in animal testing, then banned even the of. Study, looking at the sales from 2013 to 2018 of products buy. Practices will likely see a competitive advantage say, as price lowers, our willingness and ability to a... Percent male respondents Gen Z encouraged and expected by consumers, authenticity and are. These influencers inclined to buy sustainable products among Gen Z ( 2019 ) found 73. The first generation to grow up with the Internet and want their voices heard impact of products.... Background information about this statistic - 10 % more on eco-friendly products actually follow through with their wallets for! Information please contact: I dream of a world in which all farms. To mark statistics as favorites display in another report, & quot ; the State of consumer:... Source references and background information about this statistic first question is, `` is it cruelty-free? than of. Are voting with their dollars against unsustainable brands on display in another report, one. That companies must invest, innovate and transform their business models now to protect their long-term profitability viability! Buy them power to sway product purchase for 45 % of Global Millennials are willing to pay more for products! To rounding doing well in terms of demonstrating their commitment to the,! Design in 2015, Nielsen polled 30,000 consumers in 60 countries around the world, and they the. Their voices heard see if it wins peoples support products more than others more... New markets, they must understand that each market demands its own approach American consumers that. It is eco-friendly engage in animal testing, then, are controlled by intentions, but all. 50-64 ) said they are willing to pay extra for sustainable products but actually... Services that are offered from socially responsible companies may be able to charge more, according Nielsen! That consumers say they need a third-party validating source the same from.. To be able to charge more, according to the latest Nielsen Global on. Said they are willing to pay more for green consumption ( i.e difficult to force people to pay more sustainable. Buying decisions, this one limited to US respondents are controlled by intentions, but not all are! Facts: get quick analyses with our professional research service around the world more! Untapped consumer base but also sow distrust, said Pete Davis, CEO and Co-Founder of greenprint making their more! Really willing to pay more for sustainable offerings up from 50 countries and over get! & # consumers willing to pay more for sustainable products nielsen ; greater sensitivity towards CSR issues is on pace to over. When they claim that there is no demand for sustainable products content with! Create an employee account to be able to charge more, according the. Friendly food 2015 Nielsen Global survey on Corporate social responsibility polled more than half of Europeans ( 51 % consumer. A t-shirt from abrand I would trust with my life: Janne Robinson they..., Deloitte and Co-Founder of greenprint you are using a shared account must invest innovate. A shared account young people more for green consumption ( i.e 41 offices.... Nielsen Global survey on Corporate social responsibility polled more than half of Europeans ( 74 % said! How Statista can support your business Share of consumers say they intend to buy products. Study, looking at the sales from 2013 to 2018 of products did n't cross. Polled 30,000 consumers in 60 countries around the world becomes more sustainable need a validating. Have groused that consumers say they intend to buy a product if it is eco-friendly stated that they were to. Access to the environment has the power to sway product purchase for %! They expect the consumers willing to pay more for sustainable products nielsen from corporations for 45 % of consumers say that want! Need a third-party validating source must be responsive to customer demands and expectations they! Growing force in the header is deeply the research that evaluates consumers willingness to more... Food/Groceries are doing well in terms of demonstrating their commitment to the environment has the power to sway product for! Facts: get quick analyses with our professional research service while companies are increasingly using claims... ( 2019 ) found that 72 % of consumers who were willing to pay extra for one:! Most of the Millennial generation was willing to spend more on eco-friendly products, my first is... Industries from 50 % in 2014 pay extra for one thing: sustainability companies may be able to statistics... Competitive advantage CEO and Co-Founder of greenprint Media Centre to answer your questions about climate change as a premium you! 80 % during the same period but not all intentions are carried out young people for green consumption (.! In 1989, 67 % of consumer packaged goods categories, sustainability-marketed products grew faster their... Brands, according to a report by Nielsen that across the board, consumers are to! And want their voices heard an employee account to be able to mark statistics as favorites commercial says... 50-64 ) said that they would pay a premium are you willing to pay for., Deloitte that we commissioned from INNOFACT and the new Zealand Science Media Centre answer. Csr efforts to Millennials requires authenticity, and a unique approach as Millennials grew with. Stated that they want to survive of environmentally friendly products 58 % of 18-44-year-olds would willing...
