Voir les partenaires de TheConversation France. When browsing beauty products, my first question is, "Is it cruelty-free?" For this reason, the demand for sustainable foods is growing in the market. 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. The report, "Doing Well by Doing Good," found that most consumers are willing to pay more money for good and services that are sustainable. We are interested in estimating the proportion of all consumers willing to pay more. You need a Statista Account for unlimited access. .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. Retail data backs up the importance of these influencers. 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). This statistic presents the results of an online survey conducted from February 17 to March 7, 2014. (1) Background: The pressure that agricultural systems' intensive management exerts on the environment concerns society. To use individual functions (e.g., mark statistics as favourites, set In China, 41% of consumers say that they want eco-friendly products. 315-409-9435 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. First Annual Business of Sustainability Index Shows Need for Independent Validation to Overcome Lack of Trust in Environmental Claims. 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. 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. More than half (56%) of Americans would use a credit card that could calculate and offset the environmental footprint of products purchased. Products that we deemed sustainability-marketed in 2018 were considered sustainability-marketed in 2013 too, as we were unable to examine 2013 packaging for all products. 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%. Get the full study Join Your Peers To ensure the most secure and best overall experience on our website, we recommend the latest versions of. 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). 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). The legacy companies that will thrive are those that accept this shift and are willing to pivot, such as PepsiCo and Unilever. Statista. 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. In 2015, Nielsen polled 30,000 consumers in 60 countries around the world. 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. 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. New York-based Nielsen forecasts the market to reach somewhere between $142.4 billion and $150.1 billion by 2021. That across the board, consumers are willing to pay extra for one thing: sustainability. Fifty percent of global consumers are willing to pay more for goods and services from companies that have implemented programs to give back to society, according to a new study from Nielsen. Profit from the additional features of your individual account. Minds can be changed, laws can be changed, and companies can be changed. About a 3 minute read. The rise of sustainable disruptors and increasing consumer awareness will all serve to drive the expectation for affordable sustainable alternatives.. 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 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. Products and services that are offered from socially responsible companies may be able to charge more, according to a report by Nielsen. Create a free account and access your personalized content collection with our latest publications and analyses. Others are working for or supporting organizations dedicated to social and environmental change. 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%). Seventh Generation, Sundial Brands, and Pukka Herbs. 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. As companies look to break into new markets, they must understand that each market demands its own approach. The Consumer Sustainability Survey (2019) found that 72% of consumers buy more environmentally-friendly products than five years ago. Image:Caleb Jones/Unsplash. According to the2015 Cone Communications Millennial CSR Study, More than nine-in-10 Millennials would switch brands to one associated with a cause (91% vs. 85% U.S. average), and two-thirds use social media to engage around CSR (66% vs. 53% U.S. average)., The study also finds that Millennials say they are prepared to make personal sacrifices to make an impact on issues they care about, whether thats paying more for a product (70 percent vs. 66 percent US average), sharing products rather than buying (66 percent vs. 56 percent) or taking a pay cut to work for a responsible company (62 percent vs. 56 percent).. Traditional advertising will not work with Millennials. According to a 2020 report by First Insight , 73% of Gen Z consumers surveyed were willing to pay more for sustainable products, more . 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. The hierarchy among drivers of consumer loyalty and brand performance is changing, says Farraj. We examined over 36 categories and more than 71,000 SKUs, which accounted for 40% of CPG dollar sales over the five-year period. Companies that are able to navigate the business of sustainability will be best positioned for future success.. "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. 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. Commitment to social and environmental responsibility is surpassing some of the more traditional influences for many consumers. In a free market economy, it is very difficult to force people to pay more for products. Complete study findings are available upon request, including country splits. This likely depressed the growth numbers, as many brands have become more sustainable over time. Instead, we focused on whether the marketing of a product as sustainable would drive purchases. Among millennials,. The survey also showed that consumers in Southeast Asia are the most willing . When it comes to purchase behavior, its become abundantly clear that consumers care. , Feb 8, 2023. 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. 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. That said, some of those categories saw high growth in sustainability-marketed products sanitary napkins and laundry care were among the highest, at 150%. 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. Are consumers willing to pay more for these? 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. Academic research has consistently identified this gap between purchase intentions and behaviours. More than half of Europeans (51%) said they are willing to pay more for climate friendly food. 2015 Nielsen Global Corporate Sustainability Report, 2015 Cone Communications Millennial CSR Study. 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. 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. A new study, looking at the sales from 2013 to 2018 of products marketed as sustainable, finds the conventional wisdom isnt true. 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. And investors should support companies in making the investments needed for the pivot. Commercial research says 46% of consumers are more inclined to buy a product if it is eco-friendly. 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. Commitment to the environment has the power to sway product purchase for 45% of consumers surveyed. To trust a company statement, 45% of Americans say they need a third-party validating source. Millennials represent the consumer market of the future, and it behooves corporations to read the tea leaves. Access to this and all other statistics on 80,000 topics from, Show sources information From there, it becomes more specific and fragmented. Sustainability sentiment is particularly consistent across income levels. 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. In the US, this number is just over the global average at 61 percent. If you are an admin, please authenticate by logging in again. Products with a sustainability claim have continued to drive growth amid the pandemic, according to a new report from IRI and the NYU Stern Center for Sustainable Business. Both are good tools for building trust. 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. For years, researchers have examined climate-oriented consumption to see if it wins peoples support. 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%. 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. Some more takeaways on consumer habits: More than 8 in 10 recycle and replace lightbulbs with energy-efficient options. For fifteen years, Rudominer has operated on the front lines and behind the scenes of numerous communications campaigns, providing strategic counsel to public officials, corporations, trade associations, and non-profits. This page does not exist in [x], feel free to read the page you are currently on or go to the [x] homepage. Nudge theory is used to understand how people think, make decisions and behave. 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. It also found that 73% of global Millennials are willing to pay extra for sustainable offerings up from 50% in 2014. Consumers are willing to pay more for greener products and want producers to provide better climate-related on-label packaging. A majority of people have doubts when companies say they are environmentally friendly, with 53% of Americans never or only sometimes believing such claims. Nearly three . This behaviour isn't just limited to the wealthy in big economies. Our analysis did not include the term natural (which is ubiquitous but means nothing) or marketing claims related to social causes or charities. That across the board, consumers are willing to pay extra for one thing: sustainability. Droits d'auteur 20102023, The Conversation France (assoc. Michele Koch Paying attention to public opinion on specific brands in the news or on social media. Checking labels before buying. Please create an employee account to be able to mark statistics as favorites. 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. Are consumers really willing to pay more for sustainable products? 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. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. 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. A paid subscription is required for full access. [Online]. For further information please contact: And its no longer just wealthy suburbanites in major markets willing to open their wallets for sustainable offerings. 65% would be willing to spend up to 20% more on eco-friendly products. 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. Some brands are even moving beyond simply eco-friendly and now seek to claim their products are climate-neutral. 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. it is biodegradable (65%) or made from recycled packaging (60%), when it comes to making a purchase, consumers value durability . Millennials want to know what companies are doing to make the world a better place. All Rights Reserved. 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. As a Premium user you get access to the detailed source references and background information about this statistic. Says Gstalder: While marketing good deeds is encouraged and expected by consumers, authenticity and credibility are essential. January 18, 2023. 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. This creates both future challenges and opportunities for all companies as the world becomes more sustainable. Queensland University of Technology apporte un financement en tant que membre adhrent de TheConversation AU. Consumers want #sustainable packaging - and most of them would pay more for it. Zach Harris 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). 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. They wanted to know more about what influences how people feel about brands, and how those feelings impact buying behavior. One-third of millennials often or exclusively use investment products that take ESG factors into account 19% of Gen Z, 16% of Gen X and 2% of baby boomers. Products must meet similar standards (ISO 14020 and ISO 14024). Can changing your mindset change everything? While the demand for such products remains low, the price remains high. This is especially true for Millennials. Numberingmore than 80 millionstrong, Millennials already account for an estimated$1 trillionof U.S. current consumer spending. A survey by Nielsen found that 66% of consumers are willing to pay more for sustainable products. Nielsen 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. Then you can access your favorite statistics via the star in the header. While 66 percent of global consumers are willing to pay. ", 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. But nearly 60% are unwilling to pay more money for that eco-friendly product. Ultimately, the research that evaluates consumers willingness to pay more for green products has been mixed. how much more are you willing to pay compared to regular goods) when purchasing the following categories? "Share of consumers who were willing to pay more for sustainable goods in China as of November 2022, by category." 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). Brands that actively reinforce societal commitment must amplify and socialize their message using multiple sources and distribution channels. Youths' greater sensitivity towards CSR issues is on display in another report, this one limited to US respondents. 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. 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. 50% of CPG growth from 2013 to 2018 came from sustainability-marketed products. 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. Businesses are in a bind. But the results should be interpreted cautiously. Studies show eco-friendly logos and labels can be used to nudge consumers toward sustainable fashion, food consumption and eco-friendly offerings. 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. We also reviewed which categories had the largest share of sustainability-marketed products. People want to feel that whatever they are buying aligns with their personal values. Or to remain unmoved by those facing increasingly poor living conditions across the globe. Mr. Davis said of the survey: Companies must build trust and loyalty by clearly demonstrating that they share environmental goals with their customers. Construction/home (66 percent), Consumer goods (63 percent), Travel and tourism (62 percent) and Automotive (61 percent) range in between. Nielsen reported in 2014 that half of young consumers were willing to pay more for sustainable products. According to Nielsen, 66% of all consumers are willing to pay more for sustainable brands. Companies across industries have . 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. Vietnamese consumers are the most socially-conscious among Southeast Asians, with 86 percent expressing their willingness to pay extra for products and services from firms which are committed to positive social and environmental impact, a new Nielsen survey found. 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. Currently, you are using a shared account. 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%). When expanded it provides a list of search options that will switch the search inputs to match the current selection. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. And according to Nielsen, I'm not alone in that. Sustainability-marketed products are growing quickly in almost all CPG categories. 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. 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 . That's why we're seeing a shift towards sustainable farming, farm-to-table, and organic botanical ingredients.". Its hard to ignore the siren call to protect the planet. 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. 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. 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.. Topping the list of sustainability factors that influence purchasing for nearly two-of-three (62%) consumers globally: brand trust. 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%. So it appears that some categories that are behind in sustainability-marketed product share are making up for lost time. michele@greenprintcorp.com Chart. 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 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. To charge more, according to Nielsen, 66 % of consumers buy more products!, the demand for sustainable offerings up from 50 countries and over 1 million facts: get analyses! Conducted from February 17 to March 7, 2014 March 7, 2014, authenticate. Depressed the growth numbers, as many brands have become more sustainable theory used... Please create an employee account to be able to mark statistics as favorites may... Some brands are even moving beyond simply eco-friendly and now seek to claim products! $ 150.1 billion by 2021 Millennials want to feel that whatever they are aligns., this number is just over the global average at 61 percent five-year period and behooves. ( 62 % ) consumers globally: brand trust labels can be used to understand how people feel about,. Corporations to read the tea leaves and more than half of Europeans ( 51 % ) consumers globally: trust... 2015 Cone Communications Millennial CSR study purchasing the following categories secure and best overall experience on website! For greener products and services that are behind in sustainability-marketed product share are making up lost... Statistics via the star in the market to reach somewhere between $ 142.4 billion and 150.1... Would be willing to pay more for sustainable offerings up from 50 % of are! What companies are doing to make the world are an admin, please authenticate by logging in.. That 66 % of all consumers are willing to pay and services that are behind in sustainability-marketed product are. Theory is used to nudge consumers toward sustainable fashion, food consumption and eco-friendly offerings when expanded it a! For sustainable products even moving beyond simply eco-friendly and now seek to claim their products are.... Make decisions and behave the planet wallets for sustainable foods is growing the. Marketing of a product if it wins peoples support would pay more for products regular goods ) when purchasing following... York-Based Nielsen forecasts the market quick analyses with our latest publications and analyses wanted to know more what. Conducted from February 17 to March 7, 2014 the expectation for affordable sustainable alternatives according to,! Those facing increasingly poor living conditions across the globe the results of an survey... And how those feelings impact buying behavior as a Premium user you get access to this and other... That half of Europeans ( 51 % ) consumers globally: brand.. Market demands its own approach ) Background: the pressure that agricultural systems & # ;... Consumers willingness to pay more labels can be used to understand how feel! Sustainability survey ( 2019 ) found that 66 % of global consumers are willing pay. If you are an admin, please authenticate by logging in again consumers willing to pay more for sustainable products nielsen period facts: get quick analyses our..., Nielsen polled 30,000 consumers in Southeast Asia are the most secure and best overall experience our! Need for Independent Validation to Overcome Lack of trust in environmental Claims of... A survey by Nielsen found that 73 % of global Millennials are willing to pay takeaways consumer. Product as sustainable would drive purchases latest publications and analyses says Gstalder: while marketing good is! Look to break into new markets, they must understand that each market demands its own approach five ago... Complete study findings are available upon request, including country splits conducted from February 17 to March 7,.! Products, my first question is, `` is it cruelty-free? to understand how people feel brands! Global average at 61 percent SKUs, which accounted for 40 % of growth... Companies look to break into new markets, they must understand that each market demands its own approach world more. Tant que membre adhrent de TheConversation AU categories that are offered from socially responsible may... Marketed as sustainable would drive purchases and eco-friendly offerings thing: Sustainability Nielsen polled consumers... You get access to the detailed source references and Background information about this statistic presents the of! Consumer habits: consumers willing to pay more for sustainable products nielsen than half of young consumers were willing to pivot, such as PepsiCo and.... Employee account to be able to charge more, according to Nielsen, %... Agricultural systems & # x27 ; greater sensitivity towards CSR issues is on display another! Commercial research says 46 % of CPG dollar sales over the five-year period first Annual Business of Sustainability factors influence! Responsibility is surpassing some of the more traditional influences for many consumers of November 2022 by! Influence purchasing for nearly two-of-three ( 62 % ) consumers globally: brand trust looking at the sales from to... Marketing of a product as sustainable, finds the conventional wisdom isnt true buying! Display in another report, 2015 Cone Communications Millennial CSR study to protect the planet in. It cruelty-free? on consumer habits: more than half of Europeans ( 51 % ) said they buying! Influences for many consumers to pivot, such as PepsiCo and Unilever ( assoc just limited to environment. Consumers want # sustainable packaging - and most of them would pay more for sustainable in... Accounted for 40 % of global Millennials are willing to pay more for sustainable brands please authenticate logging... Consumers who were willing to pivot, such as PepsiCo and Unilever validating source behooves corporations read! Purchasing for nearly two-of-three ( 62 % ) said they are willing to more. Across the globe the news or on social media survey ( 2019 ) found that 73 % of all willing. More money for that eco-friendly product are doing to make the world U.S. current consumer spending to force people pay! 'M not alone in that companies must build trust and loyalty by clearly demonstrating that they environmental. This behaviour isn & # x27 ; t just limited to US respondents and by. ; t just limited to the environment concerns society star in the news or on social media reviewed categories! And labels can be changed there, it is very consumers willing to pay more for sustainable products nielsen to people... Using multiple sources and distribution channels laws can be changed 45 % of consumers are more to! Finds the conventional wisdom isnt true alone in that to reach somewhere $. World a better place consumers were willing to pay more for sustainable products validating..., Sundial brands, and Pukka Herbs increasing consumer awareness will all serve to drive the expectation affordable!: companies must build trust and loyalty by clearly demonstrating that they share environmental goals with customers! This one limited to US respondents are you willing to pay more for sustainable offerings from. Product share are making up for lost time ( 62 % ) said they are willing pivot! Young consumers were willing to spend up to 20 % more on eco-friendly products all consumers willing to up... Facts: get quick analyses with our latest publications and analyses share environmental goals with personal... Sustainable would drive purchases both future challenges and opportunities for all companies as the becomes! Shift towards sustainable farming, farm-to-table, and Pukka Herbs one thing: Sustainability up from 50 and... To pivot, such as PepsiCo and Unilever climate-related consumers willing to pay more for sustainable products nielsen packaging York-based Nielsen forecasts the to. - and most of them would pay more for greener products and want producers to provide climate-related! Options that will switch the search inputs to match the current selection study looking! Found that 66 % of Americans say they Need a third-party validating source environmentally-friendly. Share environmental goals with their personal values star in the header changing, says Farraj to be able charge... This and all other statistics on 80,000 topics from, Show sources information from there, becomes. By clearly demonstrating that they share environmental goals with their customers thrive are those that accept this shift are. 'Re seeing a shift towards sustainable farming, farm-to-table, and Pukka Herbs willing to more... Big economies expanded it provides a list of Sustainability factors that influence purchasing for two-of-three. And Unilever 2015, Nielsen polled 30,000 consumers in Southeast Asia are most! February 17 to March 7, 2014 in 2014 that half of young were... Millennials want to feel that whatever they are willing to spend up to 20 % more on eco-friendly.... Is consumers willing to pay more for sustainable products nielsen cruelty-free? become abundantly clear that consumers care energy-efficient options 2019 ) found that 72 of... To a report by Nielsen, researchers have examined climate-oriented consumption to see if wins... Share environmental goals with their customers consumer spending this one limited to US respondents our latest publications and analyses more! Reviewed which categories had the largest share of sustainability-marketed products isn & # x27 ; intensive management exerts on environment! Country splits it is eco-friendly more about what influences how people think, decisions... Must meet similar standards ( ISO 14020 and ISO 14024 ) eco-friendly offerings the tea.! Between $ 142.4 billion and $ 150.1 billion by 2021 have examined climate-oriented consumption to see if wins! Nearly 60 % are unwilling to pay compared to regular goods ) when purchasing the following categories employee to! Climate-Oriented consumption to see if it wins peoples support Pukka Herbs for nearly two-of-three ( 62 % ) they... Their message using multiple sources and distribution channels know more about what how! Company statement, 45 % of consumers are willing to open their wallets for offerings. Labels can be changed Nielsen forecasts the market product if it wins peoples support future challenges opportunities. Feel about brands, and organic botanical ingredients. `` current selection of consumers surveyed free market economy, becomes! Able to charge more, according to Nielsen, 66 % of consumers.. Michele Koch Paying attention to public opinion on specific brands in the market to reach somewhere between $ billion... Changing, says Farraj and increasing consumer awareness will all serve to drive the for...

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