US consumers place more emphasis on sustainability than sellers expected

The concept of sustainable development means different things to people of different ages, genders, and countries . Consumers and businesses also have different views on the concept of sustainability .

Consumers and businesses often disagree on the importance of sustainability when shopping, a recent study shows .

In 2021, First Insight, which provides analytical tools for retailers, and the Baker Center for Retailing at the Wharton School of the University of Pennsylvania surveyed more than 1,000 American consumers and 51 retail executives. The results showed that most consumers want retailers and brands to invest more in sustainability .

The study found that consumers are willing to pay more for sustainable brands and products , exceeding retailers’ expectations . More than two-thirds of consumers said they would be willing to pay at least 10% more, while two-thirds of retailers said shoppers would not be willing to pay more for sustainable products .

Nearly three-quarters of consumers say sustainability is a very or somewhat important consideration in their shopping process , while only half of retailers say sustainability is important to consumers.

In addition, retailers believe that consumers value brand more than product sustainability, but the opposite is true. Surveys show that American consumers consider product sustainability to be more important than brand.

More consumers are choosing to buy sustainable brands out of concern for the environment . For them, buying eco-friendly goods is about showing their commitment to the planet . Consumers say they want to minimize their carbon footprint and production waste.

On the other hand, retailers also believe that price is the main reason why consumers buy second-hand goods , but research shows that most consumers shop on second-hand websites out of concern for the environment .

It is reported that First Insight also conducted a similar survey in the UK. Before starting the interviews, the researchers generally believed that British and American consumers should have similar views on sustainability, but the results were a bit unexpected.

The survey results showed that only 60% of UK respondents said sustainability played a key role in their shopping decisions, compared to 72% in the US.

However, the proportion of British and American respondents who said they were willing to pay a higher price for sustainable products was the same, at 68%. In addition, more than half of British and American respondents said they were more willing to buy sustainable products.

Among all products, groceries and clothing are the two categories that consumers care most about sustainability, and are also the two categories that consumers are more willing to choose to pick up in store because they believe that this also helps protect the environment.

In view of European and American consumers' preference for sustainable products, sellers can try to establish themselves as sustainable concept brands, or launch a series of sustainable products to cater to consumer demand.

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