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Retailers need to listen more closely to their customers about their sustainable shopping preferences.
First Insight and the Baker Retailing Center at the Wharton School of the University of Pennsylvania asked senior retail executives and consumers in the U.S. how sustainable practices are impacting consumers’ shopping habits and purchase decisions. The results point to a profound sustainability knowledge gap between these two cohorts, which presents opportunities for retailers not only to bolster their reputations and enhance consumer loyalty but also to increase profits. Retailers and consumers are disconnected on factors ranging from consumers’ willingness to pay more for sustainable products to their utilization and preference for resale/recommerce models.
COVID-19 has accelerated sustainability initiatives for retailers around the world. First Insight’s Next-Gen Experience Management (XM) technology platform helps brands and retailers reduce waste by using digital testing and predictive analytics to create and market the products and messaging customers want and to understand consumer views on sustainable products and practices. Learn more about how First Insight can help kick-start sustainability initiatives.Learn more
Download our report for the full details.
First Insight's findings are based on the results of U.S. retail executive and consumer studies conducted in partnership with the Baker Retailing Center at The Wharton School of the University of Pennsylvania. The executive data were collected from a sample of 51 retail senior-level business executives in October 2021. The consumer study of more than 1,000 respondents was completed through proprietary sample sources among panels who participated online.
Further details on the findings are available upon request.
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