Consumers expect companies to enable their sustainable lifestyles. While sustainable attributes are seen as valued complementary benefits, they are not always the primary determining factor in purchases. Thus, it is crucial to link attributes aligned to consumers’ sustainable preferences to a product’s core proposition, strengthening the product’s overall value.
45% of global consumers try to have a positive impact on the environment through everyday actions
Source: Euromonitor International’s Voice of the Consumer: Sustainability Survey, fielded January to February 2024 (n=40,236)
Understanding how consumers think and act on sustainability is key for companies to effectively craft products that truly resonate with the right audience.
Here are three out of the five key takeaways from Euromonitor International’s Voice of the Consumer: Sustainability Survey 2024 report.
Sustainability as a complement, not a premium
Sustainability alone is a hard sell. Conscious consumers want high-quality, high-performance products that are designed sustainably. They value brands that make sustainable living easier and more accessible, as high prices can be a barrier. By incorporating both sustainable and non-sustainable benefits, brands are more able to justify premium pricing.
Green Spenders are prepared to pay more but not at the expense of quality or performance, hence brands must blend sustainability into product design, ensure fair prices, and provide full transparency and traceability in their supply chains to emphasise their products’ sustainable origins and credentials.
Consumers are demanding concrete evidence of corporate climate action, and are thoroughly scrutinising product lifecycles. Reliable carbon reduction claims are essential to winning over sustainability-minded consumers.
There is, however, a noticeable scarcity of carbon-neutral or reduced carbon communication across markets. This is largely due to scepticism regarding carbon offsetting projects, particularly in developed markets. For instance, in Sweden, only 1.2% of products on digital shelves carry carbon-neutral or reduced carbon claims.
As the call for carbon reduction transparency intensifies, many countries, including India and Brazil are introducing regulatory measures. Disclosing carbon-reducing practices will be key to gaining the support of climate activists.
Gen Z craves circular fashion
Gen Z consumers thrive in the circular fashion arena. They favour second-hand shopping to find stylish clothes at good prices, while decluttering their wardrobes, and make the most of rentals to give them access to luxury items – all aligning with their desire to live in a sustainable manner.
While sustainability behaviours differ globally, they share a common thread: they are mostly influenced by economic factors. Many Asia Pacific countries that promote a culture of re-use and repurposing items are seeing a rise in the number of repair shops and second-hand markets to cater to growing demand. In the EU, such behaviour is also driven by a commitment to reducing waste and environmental impact.
The apparel and electronics sectors, under scrutiny for their environmental impact, can now enhance their circular solutions. The “Right to Repair” campaign encourages manufacturers to support repairs, and models like resale-as-a-service and in-store repair stations are gaining traction among global fashion leaders.
Learn more about Sustainability in our report, and visit our Sustainability page for further insights into where to play and how to win with sustainable claims.