According to the study, generation z is far more aware of the environmental effects of their purchasing decisions than other age groups
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.