// A new study has revealed that 9 in 10 Australians are more likely to buy ethical and sustainable products.
Apart from the current pandemic and ensuing economic fallout, waste and increasing carbon emissions continue to be some of the world’s biggest concerns.
It is projected that fashion industry will contribute more than a quarter of the world’s carbon budget by 2050. Consumer electronics are being discarded at a high rate, with 50 million tonnes of electronics ending up in the landfill every year.
According to new research commissioned by delivery service CouriersPlease (CP), 87% of shoppers are more likely to purchase products that are ‘ethically and sustainably produced’, suggesting a shift towards conscious consumerism.
The survey also revealed that 85% of consumers want retailers and brands to be ‘more transparent’ about the origins and sustainability of their products and whether they are engaging in ethical practices.
“Our research reveals that Australians are becoming more conscious shoppers and are starting to make more considered choices by seeking, and purchasing, products that are sustainably and ethically produced. This is an important incentive for retailers to embark on sustainable initiatives within their own operations and supply chain.”Paul Roper, Chief Commercial Officer
There is a problem though. Although it seems that the vast majority of shoppers would rather buy ethical and sustainable products, the jury is out on how much we should pay.
Only 41% of the respondents said that they would be willing to pay more for ethical products compared to other products. The other 46% who would buy rather buy ethical products are not willing to pay extra for it. This can have a big effect on the demand for ethical and sustainable products.
When broken into age groups, shoppers under 30 are more willing to pay extra (46%), compared to shoppers over 50 (34%). Also, women are more likely to be willing to pay extra compared to men (46% vs 36%).
Given the results, it’s clear that most people want to move towards a more ethical and sustainable future, but we may have to wait until the prices for these products drop to the same level as other products for there to be any real change.