Consumer Awareness of Fair Trade Issues Grows, New Report Says
Consumer awareness of fair trade products continues to grow with younger generations paying greater attention to the issue, according to a new report from Fair Trade USA.
The organization’s An Investment in Trust: Conscious Consumerism Goes Mainstream Despite Economic Headwinds examines today’s consumer and their mindset and motivations when purchasing products and the impact fair trade has on those decisions.
"This new research shows a positive trend on the rise, as consumer awareness of fair trade products increases," said Paul Rice, founder & CEO of Fair Trade USA. "Younger generations continue to lead the charge as they look toward their future, while bringing other generations along with them. They understand the difference that every purchase makes in the lives of workers, farmers, and fishers worldwide."
Report highlights include:
Generational Shift
Younger generations continue to pay closer attention to the state of the planet and the practices behind the products they buy.
- 45% - Millennials pay 20% more for a Fair Trade Certified product
- 48% - Gen Zs say they would pay 20% more for a Fair Trade Certified product
- 20% - Millennials and Gen Zs bought Fair Trade Certified products in the past three months, double that of just three years ago
Awareness of Fair Trade
Label recognition held steady in 2022, and trust in the Fair Trade Certified label remained high.
- 65% - Consumers recognize the Fair Trade Certified seal
- 78% - General population trust the seal
- 75% - Millennials recognize the seal
- 66% - Gen Zs recognize the seal
The complete 2022 Consumer Insight Report may be accessed here. Research for this report was conducted by Natural Marketing Institute.