Media company Clear Channel UK has released a study focusing on understanding UK consumer attitudes towards sustainability.
The study of 2,000 respondents, conducted via OnePoll, 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, even amidst the cost of living crisis.
It was also revealed that 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. The data showed 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 it comes to the main factors contributing to not buying sustainable products, high cost (62%), perceived low quality (20%), lack of awareness (10%) and limited availability (6%) were revealed as the main reasons.
Other key findings from the study showed that 14% of people claimed they are more likely to purchase a sustainable product after repeated exposure to its advertising, while 17% check the labelling of products for sustainability certifications.
Ben Hope, marketing director at Clear Channel, said: “We hope 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.”
The full report can be viewed here.
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