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5 Jun 2023

The government has published guidance to help businesses prepare for the ban on single-use plastics which is due to come into force in October.

1 Jun 2023

A report published by financial institution Claro Money’s wellbeing division on the effects of money worries for retail workers found that 73% of retail workers feel negatively about their...

24 May 2023

Whilst it has welcomed some elements of the Welsh Retail Action plan, the Federation of Independent Retailers (the Fed) said more is needed to be done to support smaller businesses.

22 May 2023

More than two-fifths (44%) of customer service staff are considering leaving their roles due to increasing levels of cost-of-living fuelled abuse from customers.

22 May 2023

More than half of Britons (55%) say they have received helpful life advice from a local small business owner, new research reports.

18 May 2023

A lobby group has warned of the “startling rise in the cost of accepting cards” for small businesses after the European chief of Mastercard defended the fees it levies on merchants.

18 May 2023

It has been reported by This Is Money that HMRC now holds 55 billion items of taxpayers' data, including email and bank records, as it cracks down on tax avoidance. The data is held on its...

16 May 2023

Cycling UK has opened nominations for its annual 100 Women in Cycling list, which celebrates the inspirational women working in the cycle sector.

16 May 2023

Bike sales in 2022 were lower than 2021 throughout Europe's main markets, Bike Europe has reported, but e-bike sales continue to thrive - although the UK seems to be the exception.

9 May 2023

A mixed picture is emerging about the effect of the Coronation weekend across the UK's retail sector.

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Nearly two thirds of consumers committed to sustainability despite cost-of-living pressures

Posted on in Business News

A new report from Shopify has shown that sustainability conscious shopping is on the rise. Consumer interest in green products has remained robust, despite inflation and other economic pressures.

SustainabilityThe global survey of 24,000 consumers and 9,000 businesses undertaken last autumn found that 62% of shoppers said they would not cut down on spending on sustainable products and services despite ongoing economic uncertainty.

Moreover, 82% merchants’ businesses said they were confident sustainability measures were contributing to improved company performance.

Globally, a majority of consumers were found to be prioritising green goods, with 54% already claiming to be shopping sustainably by choosing retailers that offer carbon-neutral shipping, for example.

Consumers were also found to be proactively changing their behaviours to seek planet-positive options, with one-in-four looking for products that are recyclable, feature eco-friendly packaging or are local sourced.

Younger consumers were confirmed as the driving force behind the 'conscious commerce' trend, with 59% of Gen Z consumers and 61% of millennials claiming to shop sustainably. Moreover, almost one-in-three of both age groups said they planned to step up their green shopping this year.

Interest in green products is on the rise despite more than a third of consumers globally and 42% in the UK revealing they are curbing spending due to the cost-of-living crisis.

While shoppers welcomed sustainability initiatives - with almost half willing to pay extra to cut carbon and 26% claiming retailers that stand by their values have a better chance of retailing loyalty despite the cost-of-living crisis by sticking to their values - businesses warned that cost concerns remained a major barrier to the broader rollout of green products and practices.

"This report shows climate-consciousness is driving purchasing decisions, even in challenging economic times," said Stacy Kauk, head of sustainability at Shopify. "For both business and the climate, it's in everyone's interest to implement practices like carbon-neutral shipping and support for emerging sustainability solutions. This needs to be a collaboration between merchants, buyers, and the broader commerce community."

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