10.21.22
Inflation is on the rise, but consumers in the U.S. are still committed to making sustainable purchases—and paying premium prices for products. The findings are from the Global Sustainability Study 2022 by Simon-Kucher & Partners, a consultancy firm.
The report found a shift in consumer behavior, coinciding with a shifting sentiment toward sustainability over the past 12 months.
Most notably, 45% of respondents who previously identified their attitudes towards sustainability as negative or neutral, now cite environmental sustainability as a higher priority when it comes to purchasing decisions.
"It’s clear sustainability is not a fad and is here to stay," says Andreas von der Gathen, co-CEO of Simon-Kucher & Partners. "Consumers will continue to expect more from companies; and those that don’t adapt and innovate, even in spite of hurdles such as inflationary pressures, will suffer in regards to their long-term profitability and viability,” she says.
A sense of responsibility (61%) was the leading motivator for purchasing sustainable goods and services, followed by:
- A fear of environmental damage (49%)
- The benefit of younger generations (46%)
Here are a few more key findings:
- 65% of U.S. buyers consider sustainability when making purchases, which is a 14 percent increase from a year ago
- 73% of U.S. consumers view environmental sustainability to be as important or more important to them than a year ago
- 61% of U.S. consumers rank sustainability as a top five value driver in at least one category
More from Simon-Kucher's Global Sustainability Study 2022
Attitudes about sustainability are continuing to shift. Shoppers feel that making more sustainable choices when it comes to purchasing consumer goods makes a difference, and can have a tangible effect on the environment.Globally, the U.S. is tied with Norway, which saw the largest positive shift of 16 percentage points toward purchasing more sustainable products.
Here are a few more key highlights:
- 71% of U.S. consumers indicated their purchasing behavior and choices have shifted in at least a modest way towards buying more environmentally sustainable products over the past five years.
- Participants ranked energy/utilities (69%), construction/home (61%) and consumer goods (57%) as the top three categories for environmental sustainability when making purchasing decisions.
- Automotive (55%), travel and tourism (53%), and financial services (40%) were considered the least significant categories.
Who Participated in the Survey?
The study surveyed 1,003 U.S. consumers and included representative quotas set for age, gender, living area, education level, employment status, and income level. It was conducted between July and August 2022, using panel data provided by Dynata, an independent market research agency.For the global study, 11,711 consumers across 19 countries were surveyed.
Photo: (R) via Pexels / Ready Made