Who your customers are may factor into sustainability decisions.
According to “The State of Consumer Spending: Gen Z Shoppers Demand Sustainable Retail,” a new survey from retail predictive analytics platform First Insight, 62% of Gen Z respondents prefer to buy from sustainable brands, with buying decisions on par with millennials, while 54% of Gen X and 44% of the Silent Generation (born 1928-45) said the same. However, only 39 percent of baby boomers agreed.
Gen Z is also the most willing to pay more for sustainable products (73%) compared to millennials (68%), Gen X (55%), Silent Generation (50%) and baby boomers (42%).
Of note, the majority of respondents across generations expect retailers and brands to become more sustainable, including 84% of Gen X, 78% of millennials, 73% of Gen Z, 73% of baby boomers, and 68% of the Silent Generation.