No longer a trend limited to the young, product sustainability continues to rise in importance across all demographics. Recent research from First Insight and the Wharton School of the University of Pennsylvania shows all four generational demographics (Baby Boomer, Gen X, Millennials, and Generation Z) now rank Sustainability higher than Brand Recognition as a key purchasing factor.
Research also shows consumers of all ages willing to spend more on sustainable products compared to only two years ago. These consumers would also change buying habits in support of sustainability. A Deloitte study of UK consumers says limiting or eliminating single-use plastic packaging is the most common change consumers made.
The message is clear; sustainability rose to a mainstream concern and should only get stronger. For companies selling consumer packaged goods (CPGs), developing transformative eco-friendly packaging not only earns favor from consumers, it makes good business sense.