One in four consumers have switched brands based on its sustainability credentials, a new report has revealed.
The 2022 UK Brand Sustainability Benchmark Report found that one in four consumers have already changed brands based on sustainability perceptions, with shoppers switching to brands with the strongest sustainability credentials at twice the rate of the average brand.
The study was conducted by research technology company Glow from April to August this year, using data from its proprietary measure Social Responsibility Score (SRS), which assesses consumer perceptions of brand ESG performance.
Glow CEO, Tim Clover, said shoppers are still concerned about sustainability despite the cost of living crisis. “There is no doubt a growing cohort of consumers are making their own impact by shedding the brands that don’t meet their sustainability expectations and are moving to brands that help them feel they are making ‘micro-differences’ every day.
“Given the ongoing cost-of-living crisis which is putting serious pressure on household budgets, many brands are looking to offer increasing value to consumers. At the same time, consumers are looking for opportunities to trade down to save money. However, this does not have to be a race to the bottom. Along with price and quality, sustainability is an increasingly important consideration to the growing cohort of consumers that care.”
Rachel White, market leader at NielsenIQ UK & Ireland said there is an expectation of FMCG brands to make sustainable changes.
“Consumers now almost universally expect food & grocery brands to be stepping up in relation to environmental issues and reducing their impact on the planet. In addition, younger consumers in particular are also increasingly judging brands on how they support their communities, partners and suppliers. Brands that are slow to respond to these expectations are going to find it increasingly difficult to compete which is why data of this kind is so important.”
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