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. For additional market-level insights, read or Unpacking the Sustainability Landscape report. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). On Earth Day 2020, the organisation Climate Neutral an independent non-profit organisation working to decrease global carbon emissions confirmed 103 brands had completed its certification process in 2020 and 50 other brands were still in the process. Commercial research says 46% of consumers are more inclined to buy a product if it is eco-friendly. In 2015, brands who showed a commitment to sustainability saw sales grow more than 4% globally. In fact, an analysis of retail sales data indicated that natural products were seeing growth in otherwise declining categories. As a Premium user you get access to the detailed source references and background information about this statistic. The views expressed in this article are those of the author alone and not the World Economic Forum. Looking at web sites for information on business and manufacturing practices. 5 Ways to Connect Wireless Headphones to TV. The U.S. sustainability market is projected to reach $150 billion in sales by 2021, according to Nielsen . In burgeoning sustainability markets, however, natural and organic are paving the way for more detailed and specific claims. 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. Indeed, one recent report revealed that certain categories of products with . Already in 2015, a Nielsen report found that 73 percent of the Millennial generation was willing to pay more for sustainable goods. 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. "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. 2023 Nielsen Consumer LLC. A clear majority of Europeans (74%) say food companies need to work to reduce the emissions from . Consumers are trying to be responsible citizens of the world, and they expect the same from corporations. Academic research has consistently identified this gap between purchase intentions and behaviours. While attitudes vary across generations, countries, and industries, 85% of consumers have become greener in their purchasing in recent years. For years, brand managers have groused that consumers say they intend to buy sustainable products but dont actually buy them. Millennials are the most willing to pay extra for sustainable offeringsalmost three-out-of-four respondents (73%), up from approximately half in 2014. 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. . Saving biodiversity: why our mental and physical health depends on it. According to a recent survey, 73% of Gen Zers are willing to pay more for sustainable products. The firm has over 1,400 employees in 41 offices worldwide. Nearly three . This statistic displays the share of consumers willing to pay extra for sustainable products in the Netherlands from 2014 to 2020. A paid subscription is required for full access. 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. A new report reveals all. This page does not exist in [x], feel free to read the page you are currently on or go to the [x] homepage. 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. Today, 50 percent of consumers rank sustainability as a top five value driver, said Dr. Andreas von der Gathen, co-CEO of Simon-Kucher. lire aussi : More than half of Europeans (51%) said they are willing to pay more for climate friendly food. In 2014, less than 30 . Carbon dioxide emissions in France 1970-2021, Share of e-commerce GHG emissions worldwide 2020, by source, Leading e-commerce delivery methods used in France 2021, Average product return rates among digital shoppers in Europe 2021. This is especially true for Millennials. 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 . NYU Sterns Center for Sustainable Business just completed extensive research into U.S. consumers actual purchasing of consumer packaged goods (CPG), using data contributed by IRI, and found that 50% of CPG growth from 2013 to 2018 came from sustainability-marketed products. 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. Topping the list of sustainability factors that influence purchasing for nearly two-of-three (62%) consumers globally: brand trust. 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. Social responsibility is a critical part of proactive reputation management. A 2015 global survey by Nielsen found that 66 per cent of respondents were willing to pay more for sustainable goods. According to Nielsen, 66% of all consumers are willing to pay more for sustainable brands. Corporate leadership should no longer give brand managers a pass when they claim that there is no demand for sustainable products. 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. 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). But research continues to show few consumers who report positive attitudes toward eco-friendly products actually follow through with their wallets. Companies must invest, innovate and transform their business models now to protect their long-term profitability and viability. 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. You can unsubscribe at any time using the link in our emails. Sustainability is a worldwide concern that continues to gain momentumespecially in countries where growing populations are putting additional stress on the environment, says Grace Farraj, senior vice president, Public Development & Sustainability, Nielsen. In, Deloitte. More than half (56%) of Americans would use a credit card that could calculate and offset the environmental footprint of products purchased. Are consumers willing to pay more for these? Climate Explained is a collaboration between The Conversation, Stuff and the New Zealand Science Media Centre to answer your questions about climate change. Given that sustainability issues vary by category, we also assessed whether a claim concerned a material environmental or social issue for that category. 1901), Lexpertise universitaire, lexigence journalistique. But the results should be interpreted cautiously. People want to feel that whatever they are buying aligns with their personal values. 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. 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%. All rights reserved. In 1989, 67% of American consumers stated that they were willing to pay 5 - 10% more for sustainable products. 6 takeaways from the worlds biggest cultural policy gathering, Putting Solar Panels On Farms Makes Sheep Happier. This conventional wisdom has been used by many brands as justification for not making their products more sustainable. 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. 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. 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. tel. Are you interested in testing our business solutions? One overwhelming conclusion of the report? Products must meet similar standards (ISO 14020 and ISO 14024). According to the report, sales of consumer goods from brands with a demonstrated commitment to sustainability have grown more than 4% globally in the past year, while those without grew less. Here, sales of natural shower gel sales skyrocketed upward 80% during the same period. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022, Research expert covering e-commerce and FMCG in Greater China, Profit from additional features with an Employee Account. It can be used to help people improve their thinking and decisions. When looking at food items like coffee, I want to know first that it's Fair Trade. Consumers are voting with their dollars against unsustainable brands. [Online]. Conveying CSR efforts to Millennials requires authenticity, and a unique approach as Millennials grew up with the Internet and want their voices heard. 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. Voir les partenaires de TheConversation France. And companies with strong reputations outperform others when it comes to attracting top talent, investors, community partners, and importantly, consumers.. statistic alerts) please log in with your personal account. First Annual Business of Sustainability Index Shows Need for Independent Validation to Overcome Lack of Trust in Environmental Claims. CSR can build brand loyalty, raise awareness, and strengthen reputations, or it can have the opposite effect. Currently, you are using a shared account. 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. We examined over 36 categories and more than 71,000 SKUs, which accounted for 40% of CPG dollar sales over the five-year period. 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. michele@greenprintcorp.com In 2018, that number had risen to about 85% . You need at least a Starter Account to use this feature. The report, "Doing Well by Doing Good," found that most consumers are willing to pay more money for good and services that are sustainable. That across the board, consumers are willing to pay extra for one thing: sustainability. 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. Commitment to the environment has the power to sway product purchase for 45% of consumers surveyed. All Rights Reserved. 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. There are several reasons for this. Says Gstalder: While marketing good deeds is encouraged and expected by consumers, authenticity and credibility are essential. The legacy companies that will thrive are those that accept this shift and are willing to pivot, such as PepsiCo and Unilever. 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. 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. If you are an admin, please authenticate by logging in again. To trust a company statement, 45% of Americans say they need a third-party validating source. 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. What do these findings mean for corporate managers and investors? 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. Sixty-six percent of consumers say they are willing to pay more for sustainable brandsup from 55% in 2014 and 50% in 2013. This button displays the currently selected search type. 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. In fact, almost half (41%) of consumers from around the world say that theyre highly willing to pay more for products that contain all-natural or organic ingredients. The survey is conducted among 48 percent of female and 52 percent male respondents. In fact, almost half (41%) of consumers from around the world say that they're highly willing to pay more for products that contain all-natural or organic ingredients. Globally, sustainability is rated as an important purchase criterion for 60 percent of 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. 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 shows that sustainability has been on consumers' minds for quite. Others are working for or supporting organizations dedicated to social and environmental change. to incorporate the statistic into your presentation at any time. 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. Brands that actively reinforce societal commitment must amplify and socialize their message using multiple sources and distribution channels. So when it comes to purchasing, they are doing their homework. Seventh Generation, Sundial Brands, and Pukka Herbs. Call me a geek, but I do love a good research report! 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). 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. Get the full study Join Your Peers (1) Background: The pressure that agricultural systems' intensive management exerts on the environment concerns society. 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. 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. 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 didnt even make the top five. Paying attention to public opinion on specific brands in the news or on social media. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. As US psychologist Icek Ajzen wrote: Actions, then, are controlled by intentions, but not all intentions are carried out . Pay more, waste less: 32% of consumers would pay more for a product from a brand that they believe is committed to sustainability. For years, researchers have examined climate-oriented consumption to see if it wins peoples support. "Our sustainability. Numberingmore than 80 millionstrong, Millennials already account for an estimated$1 trillionof U.S. current consumer spending. Can changing your mindset change everything? 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. For years, brand managers have groused that while consumers say they intend to buy sustainable products, in store they dont actually purchase them. 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. Droits d'auteur 20102023, The Conversation France (assoc. Rachel Pope '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. They found that: 61% of consumers would be willing to pay more for eco-friendly DIY products. 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. Across industries, willingness to pay for sustainability is highest in Consumer goods (38 percent), and lowest for Energy/utilities (31 percent). Accessed March 02, 2023. https://www.statista.com/statistics/1367681/china-consumers-willingness-to-pay-more-for-sustainable-goods/, Deloitte. I don't dream of a world with 99 cent hamburgers available at any roadside fast food place. Get in touch with us now. The Consumer Sustainability Survey (2019) found that 72% of consumers buy more environmentally-friendly products than five years ago. On a global scale, the percentage of consumers willing to pay a premium for. 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. 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. 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. Sustainability-marketed products are growing quickly in almost all CPG categories. 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. GreenPrint, A Public Benefit Corporation, is on pace to offset over 30 million metric tons of carbon by 2025. Percentage points exceeding 100 percent are probably due to rounding. Simon-Kucher & Partners, Strategy & Marketing Consultants: Simon-Kucher & Partners is a global consulting firm specializing in TopLine Power. Studies show eco-friendly logos and labels can be used to nudge consumers toward sustainable fashion, food consumption and eco-friendly offerings. As economists say, as price lowers, our willingness and ability to buy an item increase. Companies have used this conventional wisdom as justification for not making their products more sustainable. More demand would mean more production and lower unit price costs. 50% of CPG growth from 2013 to 2018 came from sustainability-marketed products. In the US, this number is just over the global average at 61 percent. For example, plant-based is not a material issue in cereals, as most are plant-based; it is in detergents, where it means toxic chemicals are not used. Sustainable materials cost more to grow and manufacture, reputable third-party certifications add further costs and using organic materials is more expensive than alternatives such as mass-produced chemicals. Its hard to ignore the siren call to protect the planet. Consumers across regions, income levels, and categories are willing to pay more, if doing so ensures they remain loyal to their values. When looking at food items like coffee, I want to know that. Dream of a world with 99 consumers willing to pay more for sustainable products nielsen hamburgers available at any roadside food... 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