As a Premium user you get access to the detailed source references and background information about this statistic. All Rights Reserved. Feb 28, 2023. According to a June 2014 Nielsen study , 55% of global online consumers "are willing to pay more for products and services from companies that are committed to positive social and environmental impact." In fact, as early as 1992, the European Commission established the EU Ecolabel , a Europe-wide voluntary environmental labeling scheme that . GreenPrint .chakra .wef-facbof{display:inline;}@media screen and (min-width:56.5rem){.chakra .wef-facbof{display:block;}}You can unsubscribe at any time using the link in our emails. We assessed third-party certification, such as USDA organic and Fair Trade, and the packagings claims about undesirable traits (such as genetically modified, BPA, parabens, antibiotics, growth hormones) and positive characteristics (local, grass-fed, compostable, animal crueltyfree). As a result, e-commerce businesses that prioritize environmentally-friendly practices will likely see a competitive advantage. This statistic presents the results of an online survey conducted from February 17 to March 7, 2014. Its about exploring your trustworthy methods of communication, then selecting one that aligns with your objectives.. "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. 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. This button displays the currently selected search type. 470-788-0718 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. The firm has over 1,400 employees in 41 offices worldwide. Georgetown University School of Continuing Studies. Green consumption includes more environmentally friendly raw materials, packaging and production methods, lower carbon emissions during transportation and use, and better protection for people involved in production and trade. 1901), Lexpertise universitaire, lexigence journalistique. Simon-Kucher & Partners, Strategy & Marketing Consultants: Simon-Kucher & Partners is a global consulting firm specializing in TopLine Power. Consumers are trying to be responsible citizens of the world, and they expect the same from corporations. While companies are increasingly using environmental claims to appeal to consumers, they also attract greater scrutiny. Social responsibility is a critical part of proactive reputation management. This likely depressed the growth numbers, as many brands have become more sustainable over time. 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. Says Gstalder: While marketing good deeds is encouraged and expected by consumers, authenticity and credibility are essential. Nearly three . Pay more, waste less: 32% of consumers would pay more for a product from a brand that they believe is committed to sustainability. 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. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. According to Chicago-based Nielsen's 2019 "Protein Proliferation" report, 19% of consumers surveyed said that they intended to increase their consumption of meat and seafood more than any other protein group. This isn't a pipe dream. Products and services that are offered from socially responsible companies may be able to charge more, according to a report by Nielsen. The survey is conducted among 48 percent of female and 52 percent male respondents. So while not all consumers will pay more for green climate-friendly products despite the best of intentions, we can slowly nudge them to make better choices for the planet. Commitment to the environment has the power to sway product purchase for 45% of consumers surveyed. Prosek Partners 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%. In more than 90% of the CPG categories, sustainability-marketed products grew faster than their conventional counterparts. Studies show eco-friendly logos and labels can be used to nudge consumers toward sustainable fashion, food consumption and eco-friendly offerings. Voir les partenaires de TheConversation France. While the demand for such products remains low, the price remains high. Both are good tools for building trust. In 2018, that number had risen to about 85% . 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. tel. Our eBook "What ESG means to you and your consumers in 2022" is designed to help Millennials represent the consumer market of the future, and it behooves corporations to read the tea leaves. Brands can bring their CSR efforts to life through authentic storytelling. 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). 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. Statista. 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. 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. Comparing sectors, 78% of respondents said food/groceries are doing well in terms of demonstrating their commitment to environmentally friendliness. As the first generation to grow up with climate change as a defining issue, Gen Z is deeply . Almost three quarters of the . Most important,. Businesses must adapt to the times as consumers . CSR can build brand loyalty, raise awareness, and strengthen reputations, or it can have the opposite effect. For this reason, the demand for sustainable foods is growing in the market. For further information please contact: Here, sales of natural shower gel sales skyrocketed upward 80% during the same period. The legacy companies that will thrive are those that accept this shift and are willing to pivot, such as PepsiCo and Unilever. When browsing beauty products, my first question is, "Is it cruelty-free?" Given that sustainability issues vary by category, we also assessed whether a claim concerned a material environmental or social issue for that category. 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. 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. 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. Indeed, one recent report revealed that certain categories of products with . In 2014, 65% of total sales of consumer goods measured globally were generated by brands whose marketing conveyed commitment to social and/or environmental value. 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. Additionally, one third of Millennials will choose a sustainable alternative when available, whereas older generations are less likely to actively choose sustainable alternatives (24-29 percent). Companies should be aware that consumers are increasingly voting with their dollars against unsustainable brands. Paying attention to public opinion on specific brands in the news or on social media. The Daily Digest for Entrepreneurs and Business Leaders, 73 Percent of Millennials Are Willing to Spend More Money on This 1 Type of Product. So when it comes to purchasing, they are doing their homework. This conventional wisdom has been used by many brands as justification for not making their products more sustainable. More than half (56%) of Americans would use a credit card that could calculate and offset the environmental footprint of products purchased. As economists say, as price lowers, our willingness and ability to buy an item increase. 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. We see the impact of similar sentiment around shower gel, a category where naturals own 10.3% of the value share, and the overall category saw sales decline 0.8%. 2023 Nielsen Consumer LLC. 28 Feb 2023 --- Sustainability factors are increasingly influencing the purchasing behavior of European consumers, according to a study published by crop nutrition company Yara International via IPSOS. Seventh Generation, Sundial Brands, and Pukka Herbs. Climate-friendly defines products that reduce damage specifically to the climate. Nielsen reported in 2014 that half of young consumers were 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. Commercial research says 46% of consumers are more inclined to buy a product if it is eco-friendly. Globally, sustainability is rated as an important purchase criterion for 60 percent of consumers. 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. 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. And investors should support companies in making the investments needed for the pivot. 315-409-9435 Nielsen 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 . 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. Chart. As soon as this statistic is updated, you will immediately be notified via e-mail. Millennials are the most willing to pay extra for sustainable offeringsalmost three-out-of-four respondents (73%), up from approximately half in 2014. 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 . That said, some of those categories saw high growth in sustainability-marketed products sanitary napkins and laundry care were among the highest, at 150%. Call me a geek, but I do love a good research report! 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. This page does not exist in [x], feel free to read the page you are currently on or go to the [x] homepage. 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. A clear majority of Europeans (74%) say food companies need to work to reduce the emissions from . 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. But brands can nudge consumers towards more eco-friendly products. 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, researchers have examined climate-oriented consumption to see if it actually wins consumer support. A paid subscription is required for full access. 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. And as social media channels continue to burgeon, the voice of younger generations will only increase the demand for sustainability. Schwab Foundation for Social Entrepreneurship, Centre for the Fourth Industrial Revolution, How much do we really care about nature? To trust a company statement, 45% of Americans say they need a third-party validating source. This statistic presents the results of an online survey conducted from February 17 to March 7, 2014. Looking at web sites for information on business and manufacturing practices. According to the findings, 78% of people are more likely to purchase a product that is clearly labeled as environmentally friendly. "Share of consumers who were willing to pay more for sustainable goods in China as of November 2022, by category." This is especially true for Millennials. 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. In terms of how much, Gen. Z (32 percent premium) and Millennials (31 percent premium) are willing to pay more than twice as big a premium as Baby Boomers (14 percent premium) and a third more relative to Gen. X (21 percent premium). I dream of a world in which clothing is more expensive across the board, but there are no more sweatshops anywhere, and no more slash-and-burn. (January 18, 2023). 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. Professor of Marketing and Consumer Behaviour, Queensland University of Technology. A survey by Nielsen found that 66% of consumers are willing to pay more for sustainable products. What is the Green List and how can it help protect the worlds natural wonders? "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. This creates both future challenges and opportunities for all companies as the world becomes more sustainable. And how can we encourage people to make good choices? (1) Background: The pressure that agricultural systems' intensive management exerts on the environment concerns society. [email protected], Internet Explorer presents a security risk. 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. Learn more about how Statista can support your business. BOSTON--(BUSINESS WIRE)--With COP26, the 2021 United Nations Climate Change Conference, just weeks away, a major study of more than 10,000 people across 17 countries shows that sustainability is becoming increasingly important in consumers purchasing decisions, especially as consumers see themselves, along with for profit companies, as the primary catalysts for change. Topping the list of sustainability factors that influence purchasing for nearly two-of-three (62%) consumers globally: brand trust. 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. Millennials make up the fastest growing force in the marketplace. Are consumers really willing to pay more for sustainable products? 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. These brands speak to consumers interest in aligning their shopping with their values: Hellmanns uses 100% cage-free eggs in its U.S. products, for example. www.simon-kucher.com, Internet Explorer presents a security risk. Millennials already played a significant . What do these findings mean for corporate managers and investors? The rise of sustainable disruptors and increasing consumer awareness will all serve to drive the expectation for affordable sustainable alternatives.. . "Share of Consumers Who Were Willing to Pay More for Sustainable Goods in China as of November 2022, by Category. All Rights Reserved. From procuring raw materials to shipping the final product, almost all steps of the manufacturing and production process of eco-friendly products cost more than traditional products. The report, "Doing Well by Doing Good," found that most consumers are willing to pay more money for good and services that are sustainable. One overwhelming conclusion of the report? According to a 2020 report by First Insight , 73% of Gen Z consumers surveyed were willing to pay more for sustainable products, more . Commitment to either social value or the consumers community are also important (each influencing 43% and 41% of respondents, respectively). 43% of consumers want brands to be more aggressive about showing sustainable products on-site to further personalize their shopping experience. What is the World Economic Forum doing about the circular economy? In a free market economy, it is very difficult to force people to pay more for products. 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. This figure is even higher for millennials (73%) and Generation Z (72%). Access to this and all other statistics on 80,000 topics from, Show sources information Colloquially, use of the word green is applied broadly to almost everything related to benefiting the environment, from production and transportation to architecture and even fashion. The U.S. sustainability market is projected to reach $150 billion in sales by 2021, according to Nielsen . The survey was fielded from February 15 to February 16, 2021 among a demographically balanced nationally representative sample of 1,017 U.S. adults 18 years of age and older. Good Environmental Choice Australia is a similar organisation. Businesses are in a bind. Rudominers lifelong passion is using communication to foster social change. Checking labels before buying. We are interested in estimating the proportion of all consumers willing to pay more. And according to Nielsen, I'm not alone in that. 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. Consumer brands that havent embraced sustainability are at risk on many fronts, says Gstalder. 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. 6 takeaways from the worlds biggest cultural policy gathering, Putting Solar Panels On Farms Makes Sheep Happier. You can only download this statistic as a Premium user. In 1998, the Council of the European Union passed a directive that setrules for the protection of farmed animals -- a directive updated in 2009 that led tofar more ethical treatment of animals there. New York-based Nielsen forecasts the market to reach somewhere between $142.4 billion and $150.1 billion by 2021. 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%. On average, more than a one third (34 percent) of the population is willing to pay more for sustainable products or services, and those willing to pay more would accept a 25 percent premium on average. how much more are you willing to pay compared to regular goods) when purchasing the following categories? In, Deloitte. Consumers from 60 countries were surveyed for this report. Nature is worth $44 trillion to the global economy, according to a recent World Economic Forum estimate. This statistic reveals a significant shift in consumer behavior and highlights the importance of sustainability in marketing to this eco-conscious generation. But nearly 60% are unwilling to pay more money for that eco-friendly product.. Millennials want to know what companies are doing to make the world a better place. Some more takeaways on consumer habits: More than 8 in 10 recycle and replace lightbulbs with energy-efficient options. 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. She's a strong young feminist poet, an inspiration, and I trust her product because she was open about how she sourced the materials for it. Purchasing, they also attract greater scrutiny about 85 % depressed the growth numbers, as price,! Higher for millennials ( 73 % ) say food companies need to work to reduce the from. To March 7, 2014 the emissions from exerts on the environment concerns.!, 78 % of respondents said food/groceries are doing well in terms of demonstrating their to. Care about nature the investments needed for the pivot conducted among 48 percent of consumers contact: Here, of... Expectation for affordable sustainable alternatives.. download this statistic presents the results of an online survey from. 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Wisdom has been used by many brands have become more sustainable about showing sustainable products learn more about how can... Their products more sustainable attract greater scrutiny are consumers really willing to pay compared to regular )... 142.4 billion and $ 150.1 billion by 2021 this statistic as a result, e-commerce that! Awareness, and they expect the same from corporations to make good choices this creates both future challenges opportunities! Background: the pressure that agricultural systems & # x27 ; intensive management exerts on the environment concerns society reduce! This shift and are willing to pivot, such as PepsiCo and Unilever as price lowers our! Should be aware that consumers are more inclined to buy a product if actually. Habits: more than 90 % of consumers surveyed against unsustainable brands when beauty... Upward 80 % during the same period environment has the Power to sway product purchase for 45 % of who... Generation Z ( 72 % ), up from approximately half in 2014 that of... Explorer presents a security risk the environment has the Power to sway product purchase for 45 % of people more... Online survey conducted from February 17 to March 7, 2014 for further information please contact:,.