Study reveals one in 10 of older Gen Z and younger Millennials are willing to pay up to 50% extra for sustainable products

A new study released by the UK's leading Out of Home media and infrastructure company, Clear Channel UK, revealed that demand for sustainable products is higher than ever, with one in three Brits (30%) willing to pay up to 10% more for a sustainable product compared to the non-sustainable equivalent, even amidst the cost of living crisis.

The study of 2,000 respondents, conducted via OnePoll, also revealed that an astonishing 10% of older Gen Z and younger Millennials are willing to pay up to 50% extra for a sustainable product, while 6% would be willing to pay as much as 51-60% extra.

Moreover, Clear Channel’s data showed that consumers are becoming more selective - nearly one in 10(9%) boycotted their go-to brands in the past year because of sustainability-related concerns and now only buy products from sustainable brands.

When asked about the main reasons why brands should focus on sustainability, waste reduction (73%), being good for the planet (70%), spreading awareness (43%), enhancing brand reputation (31%) and trust (30%), increasing customer loyalty (25%) and competitive advantage (22%) were the most popular responses.

Food (38%), clothing (34%), toiletries/cosmetics (26%) and household items (25%) were voted the top product categories people are most likely to buy from sustainable brands.

For 18-24-year-olds (51%) and 25-34-year-olds (44%) clothing is the category they are more likely to purchase from sustainable brands - interest in this drops by nearly 30% when compared with those aged 65 and over (23%). Older Millennials (35-44-year olds) are equally ready to buy food and clothing from sustainable brands (39%). For the older age groups, (45-54-year olds, 55-64-year olds and 65 and over), at least a third are more likely to buy food from sustainable brands (32-38%).

When it comes to the main factors contributing to not buying sustainable products, high cost (62%), perceived low quality/effectiveness (20%), lack of awareness (10%) and limited availability (6%) were revealed as the main reasons.

The research also revealed recycling (77%), reducing food waste (66%), donating to charities (51%), reducing non-essential travel (32%), choosing sustainable/eco-friendly products (29%), reducing usage of public transport (17%) and volunteering (17%) as the top sustainable initiatives Brits take part in.

Other key findings from the study:
- 17% of people check the labelling of products for sustainability certifications.
- One in five (20%) plan to prioritise sustainable brands for future purchases.
- 23% rate brands that practise sustainable approaches higher than those that don’t.
- 14% claimed they are more likely to purchase a sustainable product after repeated exposure to its advertising.
- Nearly half of Brits (44%) worry about the future of the planet.
- Nearly one in three (28%) Brits feel anxious because of climate change.
- One in four (25%) are doing everything they can to minimise their carbon footprint.
- 1% of 18-34 year-olds claimed they would be willing to pay more than 80% towards a sustainable product.
- Wrexham, Portsmouth, Liverpool, Plymouth and Aberystwyth were revealed as the most sustainable cities in the UK, where people said they are doing everything they can to minimise their carbon footprint.
- Marketing, advertising and PR (67%), charity and voluntary work (58%), teaching and education (57%), leisure, sport and tourism (56%)    and public services and administration (53%) were named as industries where people worry about the future of the planet the most.

Ben Hope, Marketing Director at Clear Channel, said: ‘’Our study has shown that while there is a high demand for sustainable products, one in five Brits rarely believe brand sustainability claims and around half only sometimes trust them. The data would suggest brands are not communicating their messaging effectively. We hope that our study will educate brands about sustainability-related expectations and how important it is for retailers to be aligned with consumers and encourage brands to embrace more effective communication strategies.”

About Clear Channel:
Clear Channel UK is one of the UK’s largest Out of Home media and infrastructure companies, operating more than 33,000 advertising sites nationwide and employing 600+ people in 14 locations.

Clear Channel’s mission is to Create the Future of Media, transforming their estate to the benefit of all stakeholders through data-driven innovations and infrastructure. Their purpose is to provide both A Platform for Brands and A Platform for Good, delivering on advertisers’ media objectives whilst having a positive impact on the world around them.

Credit
Please credit this research to Clear Channel UK: https://www.clearchannel.co.uk/latest/the-rise-of-sustainabl...

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