To state the obvious, climate change is a source of concern – recent data revealed that more than 3-in-4 Americans are worried about climate change, at least to some extent. However, the level of concern has been steadily dropping year over year, with fewer and fewer Americans expressing a high degree of concern.
How does this changing concern translate to changes in consumer behavior, such as the likelihood to purchase sustainable products?
New April data from CivicScience show that roughly 70% of U.S. adults say they have taken some type of action in the last month to help the environment and decrease their carbon footprint. More people say they have ‘adjusted the thermostat’ and/or ‘shopped locally’ than anything else. Compared to September, consumers are doing both of these things more frequently, while they are slightly less likely to limit driving and increase use of public transportation, limit single-use plastic, and shop sustainably.
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Just 16% of consumers reported they shopped sustainably in the last month, down a percentage point from September. Apart from food, a look at top retail categories shows that the majority of shoppers are not willing to spend more on sustainable products. They are the least likely to spend extra on sustainable/eco-friendly Beauty products and Accessories, while they are marginally more likely to spend more on Footwear and Apparel.
Outlook for a future of sustainable retail shopping may look rather dismal, but further analysis shows that age has the final say. This is particularly true for the beauty industry. Close to 70% of beauty shoppers under age 35 are willing to pay more for sustainable beauty products, compared to just 30% to 40% of adults in older age groups. Well over a third of Gen Z adults are willing to pay upwards of 10% for eco-friendly products.
Although environmental concern may be waning as consumers continue to intend with inflation in the post-Covid economy, young adults are much more likely to prioritize sustainable product choices, even if the cost is higher.
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