Regardless that inflation is driving worth hikes on on a regular basis objects, shoppers are prepared to pay extra for sustainable merchandise, based on a new report from software program critiques and choice platform Capterra. Shoppers who strongly agree that sustainable merchandise are fairly priced have doubled since 2021 (32 p.c vs.16 p.c).
Based on the agency’s new report, Shopper Expectations for Sustainability Are Accelerating Regardless of Inflation, client consciousness of product sustainability has additionally elevated since 2021, indicating that it has turn out to be the expectation, not an exception. In truth, 84 p.c of shoppers say they’ve bought a sustainable product prior to now six months, up from 67 p.c who reported the identical in 2021.
Total, shoppers are prepared to simply accept that making merchandise sustainably prices extra. Shopper willingness to pay extra for sustainable items has elevated by a median of 8 p.c from 2021 to 2022.
Whereas sustainable purchasing has turn out to be extra widespread amongst shoppers of all ages, Gen Z has performed a big position driving this development as they improve their buying energy. They’re most tolerant of upper costs for sustainable merchandise and extra more likely to buy them. Most (90 p.c) Gen Z shoppers surveyed have purchased a sustainable product prior to now six months, in comparison with 78 p.c of Child Boomers.
“To fulfill rising client demand for sustainability, companies ought to think about their goal demographic and the sustainability components which are most essential to them,” mentioned Olivia Montgomery, affiliate principal analyst at Capterra, in a information launch. “These client insights may help companies decide how and the speed at which they make enhancements to product improvement and procurement methods.”
A majority of shoppers (88 p.c) say that they test the sustainability of a product earlier than not less than some purchases. Sustainability components, comparable to product materials and packaging, have been rated as the most typical points shoppers test for whereas purchasing. Whereas bodily components are simpler to search for on the time of buy, shoppers who say they test for honest wages (22 p.c) and moral remedy of employees (20 p.c) have almost doubled from final yr.
Shoppers primarily worth sustainability in merchandise which are simple to devour and discard. Throughout all classes surveyed, the very best variety of shoppers say that sustainability is a prime consideration in meals and drinks (60 p.c), clothes and textiles (55 p.c), and electronics (38 p.c).