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Sustainability in Retail: What Sustainable Initiatives Do You Think Consumers Value?

Everyone knows money talks, so when it comes to spending MakerSights found that GenZ is 112% more likely than the Silent Generation to value the importance of clothing buy-back programs. They explained: “The Silent Generation is the least likely to be willing to spend more money on sustainable apparel with 35% saying they would not pay any more than a similar non-sustainable item”. Adding: “65% of the Silent Generation were willing to pay at least 10% more, but none of them was willing to pay more than 50%”.  It was interesting to find out that GenX was willing to spend the most on sustainability with 10% saying that they would pay 50% or more increase for sustainable products. Millennials followed closely behind at 8% and GenZ at 6% saying they would spend a lot more on sustainable goods. The Baby Boomers are willing to pay 10% more for their apparel to be sustainable with 71% agreeing they would spend at least a modest amount more. Similar to the Silent Generation, nearly 30% of the Baby Boomers say they will not spend another penny on sustainability.  Read more.....

 

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