An IBM and National Retail Federation study found that nearly 70% of consumers in the U.S. and Canada think it is important that a brand is sustainable or eco-friendly. In a study of 30,000 consumers across 60 countries, Nielsen found that nearly 2/3 of consumers globally are willing to pay more for sustainable goods — and that is on the rise. Consumers could note if they were willing to pay “a little” or “a lot” for each sustainability benefit. The survey showed 14% of … MIL-OSI Economics: Asia-Pacific Consumers Willing to Pay … In a circular economy, businesses can create value, jobs, and address societal challenges. It also found that 73% of global Millennials are willing to pay extra for sustainable offerings--up from 50% in 2014. The largest proportion of respondents identified themselves as average eco-conscious,, although they didn’t show any knowledge of eco labels. 65% would be willing to spend up to 20% more on eco-friendly products. FOOD MARKETING STATISTICS IN 2022 | Amra And Elma LLC consumers It’s hard to ignore the siren call to protect the planet. Nielsen’s information reveals that 43 percent of global respondents claim to have actually spent more on products and services from companies that have implemented programs to give back to society (just 7 percent fewer than those who say they would simply be willing to pay). With sustainability, as with any other aspect, an awareness of an attribute’s value can increase consumers’ willingness to pay more. According to Nielsen, three in five consumers demonstrate a willingness to pay more for products that deliver on social responsibility claims. Consumers could note if they were willing to pay “a little” or “a lot” for each sustainability benefit. This is especially true with millennials. Nielsen. The Asia-Pacific region was the most willing to pay more for … Already in 2015, a Nielsen report found that 73 percent of the Millennial generation was willing to pay more for sustainable goods. Hence, despite environmental concern and the positive attitude of customers towards sustainability and green products, it’s estimated the market share of green products will reach only 25% of store sales by 2021. Ultimately, the research that evaluates consumers’ willingness to pay more for green products has been mixed. According to Nielsen’s 2014 global survey on Corporate Social Responsibility, a growing amount of people are taking that into consideration when making their purchases.