Loading...
26 January 2024 / Article
Email
Linkedin
Facebook
Twitter
Copy LinkConsumers like to buy sustainable products and services, but many aren’t willing to pay a price premium. For consumer goods, that premium is still 27.6% over conventional equivalents, although it has been declining. The extra cost may negatively impact purchases of sustainable goods, especially during economically weaker times.
Indeed, 62% of the 2,061 respondents to The Conference Board-Harris Poll Sustainability Insights Survey—and even more Gen Z and millennial consumers—say that high inflation has reduced their interest in buying sustainable products and services. While these self-reported attitudes might not reflect actual behavior, they challenge companies to review their operating costs and pricing strategies to better meet consumers’ willingness to pay.
Members of The Conference Board get exclusive access to Trusted Insights for What’s AheadTM through publications, Conferences and events, webcasts, podcasts, data & analysis, and Member Communities.
