69% US consumers willing to pay more for sustainable products
Fibre2Fashion
Consumers in the US remain invested in eco-conscious practices, according to a survey from Blue Yonder, a digital supply chain company. The results show that an impressive 69% of respondents said they were willing to pay more for sustainable products, but just 4% expressed willingness to pay 20% more. Furthermore, 48% of respondents shared an increased interest in sustainability over the past year.
The survey also found that consumers are willing to make personal sacrifices for more eco-friendly shopping, including paying more and delaying priority shipping.
A willingness to pay 5% more for sustainable products was the top selection. Inflation remains top-of-mind for many consumers, with 58% reporting that price was the most important factor in determining whether to make a sustainable purchase, as per Blue Yonder’s 2023 Consumer Sustainability Survey.
Consumers were most willing to pay a premium for eco-friendly products that would heavily impact their day-to-day lives, with apparel (30%) being one of the most likely categories.
While e-commerce has surged in the past few years, consumers are more than happy to opt for eco-conscious shipping speeds, with 78% willing to wait up to a week for a delayed delivery. A whopping 86% of respondents were willing to delay their online shipping, provided they were given an incentive to do so. Of this group, 30% indicated they would wait for one week or more—up from 28% in 2022—and with the 18-29 demographic leading the way.
Consumer reviews carry the most weight in their green purchasing decisions, according to a plurality of survey respondents. However, consumer reviews do not carry as much weight across all age groups, with traditionalist shoppers evaluating the sustainability of a product on the use of recycled materials as the most important, the survey added.
Apparel was one of the top three consumer goods category that could be purchased second hand. Thrifting second hand clothes remains popular, with nearly one-third (31%) of respondents listing this as the eco-conscious habit they perform most often. Reusable bags also remains popular among shoppers, with 24% ranking that habit as their most frequent environmental friendly practice, the same as in 2022.
“We’re pleased to see that consumers remain as focused as ever on adopting eco-conscious behaviors, with nearly three-quarters (74%) reporting shopping at retailers with sustainable products in the last six months,” said Ed Wong, senior vice president, global retail sector leader, Blue Yonder. “It is clear that successful, environmentally friendly shopping must be driven by a symbiosis between brands and consumers. We’re deeply encouraged by how many respondents are willing to consider a sustainable product and company across resale and new product sales.”
