Expectations for more sustainable retail practices are growing as the oldest members of Generation Z move into the workforce, a new study has found.
According to 'The State of Consumer Spending' by technology firm First Insight, 62% of Generation Z survey participants prefer to buy from sustainable brands, on par with Millennials, while 54% of Generation X and 44% of the Silent Generation said the same. However, only 39% of Baby Boomers agreed, pointing to a vast divide between Baby Boomers and younger generations.
The research defines the Silent Generation as those born from 1928-1945, Baby Boomers (1946-1964), Generation X (1965-1979), Millennials (1980-1994) and Generation Z (1995-2012).
Generation Z is also the most willing to pay more for sustainable products (73%) compared to Millennials (68%), Generation X (55%) and Baby Boomers (42%). Half of the Silent Generation expressed this sentiment. The majority of Generation Z (54%) are willing to spend an incremental 10% or more on sustainable products, versus 50% of Millennials, 34% of Generation X, 23% of Baby Boomers and 36% of the Silent Generation.
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