Generation Z Willing to Pay More for Eco-Friendly Products

January 14 2020 by Jordyn Holman for Bloomberg

Generation Z is generation green. 

The cohort of shoppers typically 22 and under is more willing to pay up for sustainable brands compared to other demographics, according to a study by First Insight Inc. The findings by the digital research company found that 73% of those it surveyed would pay more for sustainable items, with the majority of that chunk willing to pay a 10% price premium.

“With Generation Z on track to becoming the largest generation of consumers this year, retailers and brands must start supercharging sustainability practices now if they are to keep pace,” Greg Petro, chief executive officer at First Insight, said. “With every generation, sustainability is becoming further embedded in purchase decisions.”

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trends  Buying Habits  millennials  consumer preferences  consumer study  consumer behavior  retail trends  Consumer Data  sustainability  upcycling  CONSUMER REPORT  recommerce

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