Sustainable products are gaining popularity, and more consumers are willing to pay for them

As consumers' environmental awareness increases, the popularity of sustainable products is also rising, and more and more consumers are willing to pay for sustainable products.

According to a new consumer survey from Sensormatic Solutions , 70 % of respondents said they would be willing to pay at least 5% more for products with sustainable supply chains . In addition, almost half of consumers believe the responsibility for implementing sustainable practices should fall on businesses and retailers, rather than individuals or government regulators.

More than half of respondents (53%) said they would visit a brand or store less frequently if they found it was not sustainable in its merchandise or operations , and 18% said they would stop shopping at that retailer altogether.

At the same time, nearly 90% of respondents believe that retailers are not doing enough to demonstrate their sustainable development efforts, and one-third of respondents do not believe in the brand's promotion of its green products . Another 90% of respondents said that it is important for them to have retailers improve their environmental performance and energy management. 62 % of people hope to achieve this goal by switching to sustainable packaging alternatives, and 54% hope that retailers will enhance inventory intelligence to avoid overstocking, waste of goods, etc.

Consumers’ definitions of “sustainable practices” vary, ranging from installing energy-efficient displays to using alternative packaging and participating in recycling programs. Therefore, when exploring sustainable retail initiatives, retailers can conduct specific research to select the business model that best suits them.

In addition, a recent survey of U.S. supply chain professionals by enterprise software provider SAP and Regina Corso Consulting showed that 28% of respondents said supply chain sustainability issues keep them up at night and are making them feel embarrassed.

However , 91% of respondents said their company has specific sustainability goals, and 95% said procurement plays an important role in achieving those sustainability goals.

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Sustainable products