Lower-income Shoppers More Likely to Pay Small Premium for Green
Lower-income shoppers, including Gen Yers and Millennials just coming into the broader economy, are more likely to pay up to 10 cents more for green products, according to a new report from Miller Zell. In total, the report found that half of all shoppers are willing to pay a premium for green items.
The “Green” Scene is part two of a series of mini reports from Miller Zell’s larger report, “Gone in 2.3 Seconds: Capturing Shoppers with Effective In-Store Triggers.”
Grocery stores are most likely to benefit from these trends, as the report found that 79 percent of shoppers are more likely to pay a premium for green items in supermarkets.
Overall, women are more likely than men to pay a premium for green items. Nearly two-thirds of all women will pay a premium, versus about half of men.
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