Sustainable Business & Consumer

Fast facts

• The sustainability-conscious consumer segment rebounded to make up 22% of shoppers worldwide in 2023, after dipping to 18% in 2022. They’re projected to spend a total of $1 trillion by 2027. (Kantar)

• Products marketed as sustainable have grown 2 times faster than those not marketed as sustainable. (NYU Stern)

• Brands with more sustainable products in their lineup enjoy more loyalty from customers (with 34% coming back for more) than brands with few sustainable offerings (27%). (McKinsey)

• 8 out of 10 people are open to paying a 5% premium for sustainable goods. (PwC)

• Gen Z (1995-2012) and Millenials (1983-1994) show the highest consideration for sustainability, at 94% and 93% respectively. (ESW)

• Surprisingly, it’s Gen X (around 1960 -1983) who are most likely to pay more than any other generation for sustainable items, at 78%. Across the board, willingness to pay a price premium of 10% has increased. (First Insight)

• Climate change remains a top three concern for Millenials and Gen. Other causes for worry are cost of living and unemployment. (Deloitte)

• 77% of companies say their sustainability initiatives increase customer loyalty. 63% have seen growth in sales. (Capgemini)

• Environmentally focussed startups are twice as likely to survive as their non-conscious counterparts through their early development. (University of Trento)

• Reducing material waste through zero and low-waste policies can help to improve operating profits by as much as 60%. (McKinsey)

Information provided by: https://thesustainableagency.com/blog/sustainability-facts-and-statistics-for-business-owners/