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. 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. 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. Products and services that are offered from socially responsible companies may be able to charge more, according to a report by Nielsen. Please create an employee account to be able to mark statistics as favorites. But the results should be interpreted cautiously. Please do not hesitate to contact me. Younger shoppers are the most willing to. Given that sustainability issues vary by category, we also assessed whether a claim concerned a material environmental or social issue for that category. For years, researchers have examined climate-oriented consumption to see if it actually wins consumer support. 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. Consumers could note if they were willing to pay "a little" or "a lot" for each sustainability benefit. To trust a company statement, 45% of Americans say they need a third-party validating source. She's vocal about the fact that it costs a lot more than shirts from a company like H&M specifically because she only uses sustainable goods and ethical practices when it comes to the workers. While companies are increasingly using environmental claims to appeal to consumers, they also attract greater scrutiny. 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. Voir les partenaires de TheConversation France. And its no longer just wealthy suburbanites in major markets willing to open their wallets for sustainable offerings. As companies look to break into new markets, they must understand that each market demands its own approach. A survey of 51 retail senior-level . 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. Ryan Rudomineris a principal at R2 Strategic Consulting where he specializes in strategic communications, advocacy, and media relations. We also reviewed which categories had the largest share of sustainability-marketed products. Learn more about how Statista can support your business. 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. Businesses must adapt to the times as consumers . Nielsen's 2014 Global Survey on Corporate Social Responsibility, released Tuesday, shows that 55 percent of global online consumers across 60 countries are willing to pay more for products and services from companies that are committed to positive social and environmental impact. As soon as this statistic is updated, you will immediately be notified via e-mail. Consumer concern about the environment does not readily translate into the purchase of environmentally friendly products. Today, 50 percent of consumers rank sustainability as a top five value driver, said Dr. Andreas von der Gathen, co-CEO of Simon-Kucher. 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. Consumers want #sustainable packaging - and most of them would pay more for it. Paying attention to public opinion on specific brands in the news or on social media. Commercial research says 46% of consumers are more inclined to buy a product if it is eco-friendly. The Generational Gap: Younger consumers are more actively taking steps towards being more sustainable. Committing to sustainability might just pay off for consumer brands, according to the latest Nielsen Global Corporate Sustainability Report. 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). e-mail: rachel.pope@simon-kucher.com 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. 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. zharris@prosek.com, Internet Explorer presents a security risk. michele@greenprintcorp.com The Nielsen Global Survey of Corporate Social Responsibility and Sustainability was conducted between Feb. 23-March 13, 2015, and polled more than 30,000 consumers in 60 countries throughout Asia-Pacific, Europe, Latin America, the Middle East, Africa, and North America. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. 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). To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Are consumers really willing to pay more for sustainable products? Share of consumers who were willing to pay more for sustainable goods in China as of November 2022, by category [Graph]. Are you interested in testing our business solutions? Millennials want to know what companies are doing to make the world a better place. They are willing to rethink their buying habits to incorporate environmental and social product benefits into their buying decisions. 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. Millennials represent the consumer market of the future, and it behooves corporations to read the tea leaves. You need a Statista Account for unlimited access. 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. This conventional wisdom has been used by many brands as justification for not making their products more sustainable. 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. More than half (56%) of Americans would use a credit card that could calculate and offset the environmental footprint of products purchased. Percentage points exceeding 100 percent are probably due to rounding. Hence, despite environmental concern and the positive attitude of customers towards sustainability and green products, its estimated the market share of green products will reach only 25% of store sales by 2021. But brands can nudge consumers towards more eco-friendly products. Profit from the additional features of your individual account. 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. 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%. 'Global consumer-goods' brands that ignore sustainability increase reputational and business risk' Nielsen's research also found that 66 percent of consumers were willing to pay more for sustainable goods in comparison to 50 percent in 2013. TV ads highlighting a companys commitment to positive social and/or environmental impact are influential in the path to purchase for 34% of global respondents. 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. 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. Its about exploring your trustworthy methods of communication, then selecting one that aligns with your objectives.. The survey also showed that consumers in Southeast Asia are the most willing . statistic alerts) please log in with your personal account. What do these findings mean for corporate managers and investors? 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. This is especially true for Millennials. 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%). You can only download this statistic as a Premium user. For more information, visit www.nielsen.com. Jun 27, 2014 The willingness to pay for sustainable products has increased universally since 2011. Both are good tools for building trust. Prosek Partners Professor of Marketing and Consumer Behaviour, Queensland University of Technology. In 1989, 67% of American consumers stated that they were willing to pay 5 - 10% more for sustainable products. 2023 Nielsen Consumer LLC. Im seeing quite a few climate-friendly products at the supermarket. Consumers are willing to pay more for greener products and want producers to provide better climate-related on-label packaging. This creates both future challenges and opportunities for all companies as the world becomes more sustainable. Companies that are able to navigate the business of sustainability will be best positioned for future success.. For years, brand managers have groused that consumers say they intend to buy sustainable products but dont actually buy them. 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. 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. 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. Show publisher information Commercial research says 46% of consumers are more inclined to buy a product if it is eco-friendly. Products must meet similar standards (ISO 14020 and ISO 14024). The bottom line is that the corporate world cannot ignore the demands and expectations of Millennials, who are devout in their desire to associate with companies aligned with their values. Our analysis did not include the term natural (which is ubiquitous but means nothing) or marketing claims related to social causes or charities. Third-party validation helps certify progress in the eyes of consumers, and the process of carbon offsetting which is easy to measure and communicate helps create tangible benchmarks. To a certain degree, products that need to have a higher degree of efficacy (such as laundry care and sanitary napkins) were more likely to have a lower share of sustainability-marketed products, perhaps because consumers are concerned about performance trade-offs. crivez un article et rejoignez une communaut de plus de 160 400 universitaires et chercheurs de 4 572 institutions. The firm has over 1,400 employees in 41 offices worldwide. Environmental Choice New Zealand is the official environmental label body that awards certificates and lists environmentally friendly products for green homes or businesses. 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. Commitment to social and environmental responsibility is surpassing some of the more traditional influences for many consumers. 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. Many sustainable trends in new markets start with beauty and personal care. What is the World Economic Forum doing about the circular economy? To ensure the most secure and best overall experience on our website, we recommend the latest versions of. 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. not how pretty the blush is. 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. New York-based Nielsen forecasts the market to reach somewhere between $142.4 billion and $150.1 billion by 2021. Or to remain unmoved by those facing increasingly poor living conditions across the globe. The survey is conducted among 48 percent of female and 52 percent male respondents. Saving biodiversity: why our mental and physical health depends on it. Millennials and Gen Z are becoming a force to be reckoned with as they continue to represent a larger share of the consumer demographic. 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. Good Environmental Choice Australia is a similar organisation. Millennials are the most willing to pay extra for sustainable offeringsalmost three-out-of-four respondents (73%), up from approximately half in 2014. About a 3 minute read. 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. 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. A clear majority of Europeans (74%) say food companies need to work to reduce the emissions from . Studies show eco-friendly logos and labels can be used to nudge consumers toward sustainable fashion, food consumption and eco-friendly offerings. According to our Consumers Buy The Change They Wish To See in The World report, we found that natural and organic ingredients and certifications serve as the entry level point for nearly every market when it comes to sustainability attributes consumers are searching for. GreenPrint For example, one study found Spanish consumers were willing to pay 22-37 per cent more for green products, but Japanese consumers were only willing to pay 8 per cent to 22 per cent more for . And according to Nielsen, I'm not alone in that. Mr Harrison says, however, that customers are becoming more canny. 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. In more than 90% of consumer packaged goods categories, sustainability-marketed products grew faster than their conventional counterparts. Speaking with: law professor Cass Sunstein, on why behavioural science is always nudging us. 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. 2023 Nielsen Consumer LLC. 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. Brands can bring their CSR efforts to life through authentic storytelling. It can be used to help people improve their thinking and decisions. Others are working for or supporting organizations dedicated to social and environmental change. They wanted to know more about what influences how people feel about brands, and how those feelings impact buying behavior. to incorporate the statistic into your presentation at any time. Consumers' demand for sustainable products is increasing. Statista. We examined over 36 categories and more than 71,000 SKUs, which accounted for 40% of CPG dollar sales over the five-year period. Globally, sustainability is rated as an important purchase criterion for 60 percent of consumers. Access to this and all other statistics on 80,000 topics from, Show sources information Concerned about allegations of greenwashing claiming a product is green when its not many brands are turning to organisations such as Climate Neutral, Foundation Myclimate and members of the Global Ecolabelling Network to legitimise their claims. Nature is worth $44 trillion to the global economy, according to a recent World Economic Forum estimate. Register in seconds and access exclusive features. 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. . For this reason, the demand for sustainable foods is growing in the market. A 2014 Nielsen study found that 55 percent of global consumers are so passionate about the planet and its people that they're willing to pay more for products and services provided by. 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. Original survey question: How much of a premium are you willing to pay for green consumption (i.e. In China, 41% of consumers say that they want eco-friendly products. 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. Nielsen tel. (January 18, 2023). 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 2015 global survey by Nielsen found that 66 per cent of respondents were willing to pay more for sustainable goods. For years, researchers have examined climate-oriented consumption to see if it wins peoples support. It also found that 73% of global Millennials are willing to pay extra for sustainable offerings up from 50% in 2014. A fresh one is out from McKinsey & Company and Nielsen IQ - and the punchline is that making and 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. This figure is even higher for millennials (73%) and Generation Z (72%). 75% of Millennials are willing to pay more for an environmentally sustainable product, compared to 63% of Gen Z, 64% of Gen X, and 57% of Boomers. The relative importance of sustainability during the purchase process will continue to increase. Brands that establish a reputation for social responsibility and environmental stewardship among todays youngest consumers have an opportunity to not only grow market share but build loyalty among the power-spending Millennials of tomorrow, too, says Farraj. Examined over 36 categories and more than 71,000 SKUs, which accounted for 40 of! 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