47% Of Gen Y Would Pay More For Green Brands
Gen Y is split down the middle on the influence a retailer’s environmental policy and sustainability had on their shopping habits with 50 percent of respondents saying a retailer’s policy did influence their shopping behavior, according to research from Maritz designed to track Gen Y’s brand awareness among several popular clothing retailers (via Sustainable Life Media). When asked to describe their attitude toward a retailer’s environmentally friendly positioning, 46 percent said they’d shop at a retailer more if they were environmentally friendly, while 54 percent said it wouldn’t affect their behavior.
Forty-seven percent said they would be willing to pay more for environmentally friendly services, products or brands. Out of this percentage, the vast majority (77 percent) cited their “care about the environment” as the reason behind their willingness to pay more, with other qualifiers, such as “it’s the right thing to do” (21 percent) or “so that people know I’m environmentally aware” (2 percent) trailing behind.
“When it comes to determining marketing messages to reach Gen Y, this poll revealed some interesting facts for retailers,” said Gloria Park Bartolone, division vice president, Maritz Research’s Retail Group. “While the majority wasn’t impacted either way by a store’s environmental stance, you can’t ignore that 46 percent of shoppers said they’d spend more with a retailer that was environmentally friendly. The percentage lends credibility to environmental messaging, which is only likely to gain more momentum with consumers in the future.”
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