A new study shows how sustainability deeply affects the buying habits of Generation Z.
According to the 2019 Retail and Sustainability Survey by CGS, a provider of business applications, more than two-thirds of respondents consider sustainability when making a purchase and are willing to pay more for sustainable products. Despite being a relatively new buying group, Gen Z shoppers, who are aged xx to xx, make up some of the most conscious buyers, with 68 percent having made an eco-friendly purchase in the past year.
Across the U.S., businesses are taking action to implement more eco-friendly processes and products. For example, Patagonia developed Woolyester, a material that blends wool, polyester and nylon to use approximately 50 percent of waste materials. The reason for this eco-friendly trend? It is what consumers want. Nearly 70 percent of CGS survey respondents said that sustainability is at least “somewhat important” to them when making a purchase and 47 percent would pay more for a sustainable product.
According to the study, while Gen Z is still a rising economic force, this generation is far more aware of the environmental effects of their purchasing decisions than other age groups. The survey shows that Gen Z ranks ethical business/manufacturing as one of its top factors when purchasing, while the general public is more concerned about product price and availability. Additionally, more than 50 percent of Gen Z would be willing to pay more for a sustainable product, slightly higher than expressed by the general population (47.3 percent).
CGS surveyed over 1,000 U.S. individuals (ages 18-65 plus) on how sustainable products and business practices are driving their buying preferences. Despite price still being a big factor in purchasing decisions, consumers are putting an emphasis on sustainability, and are also increasingly focused on shopping with brands whose mission they care about.
To read the CGS study, click here.