According to a recent report by American Express, sustainability remains a top priority for UK consumers, even in a worsening economic climate. The survey, which gathered responses from 2,000 UK consumers, found that 65% of respondents consider the environmental impact of the products they purchase when shopping. This indicates a growing awareness and concern for the planet among consumers.
In addition, 41% of respondents expressed a preference for shopping locally rather than online. This choice is driven by a desire to minimize the carbon footprint associated with digital deliveries. Consumers are becoming more conscious of the environmental impact of their shopping habits and are actively seeking ways to reduce it.
The report also revealed that consumers are becoming more discerning about where they make their purchases. A majority of 63% indicated that they would only shop with a retailer that offers sustainable delivery options. Furthermore, 91% agreed that sustainable packaging, a commitment to social good, and a brand’s ethical reputation are important factors in their decision-making process. This shows that consumers are not only looking for sustainable products, but they also expect sustainability to be embedded throughout the entire customer experience.
Moreover, the survey found that a significant percentage of consumers are willing to pay more for products that have better environmental credentials. 32% of respondents expressed this willingness, with the percentage rising to 45% among those aged 18-34. This highlights the increasing importance of sustainability among younger consumers.
Interestingly, the report also revealed a shift in consumer preferences towards second-hand retailers. 64% of respondents now prefer to shop with second-hand retailers, whether it be in-store or online. This trend emphasizes the growing popularity of sustainable alternatives such as thrift stores and vintage shops.
Daniel Edelman, Vice President and UK General Manager of Merchant Services at American Express, emphasized the need for merchants to evaluate and communicate their sustainability strategies effectively. As consumers become more selective about where they spend their money, retailers need to adapt and showcase their sustainability efforts to attract and retain environmentally-conscious customers.
Overall, the report showcases the enduring commitment of UK consumers to prioritize sustainability in their shopping habits, even in challenging economic circumstances. As the demand for sustainable options continues to grow, retailers need to adapt and communicate their sustainability efforts to cater to this evolving consumer mindset.
Useful links:
1. BBC – Sustainable Shopping Guide
2. The Guardian – Ethical and Sustainable Funds
