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2 Feb 2023

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...

2 Feb 2023

Shop prices have reached record highs after inflation accelerated in January, with a warning that the peak is yet to arrive.

2 Feb 2023

A new deposit return scheme announced by the Government to make it easier for people to recycle plastic bottles and drink cans will put a strain on independent retailers, according to industry...

30 Jan 2023

The number of shops lying vacant on British high streets fell during the final three months of 2022, despite pressure on both companies and consumers from the rising cost of living.

26 Jan 2023

The rapid growth in the use of Buy Now Pay Later (BNPL) services risks becoming the UK's next 'credit trap' scandal, a loan provider has warned.

25 Jan 2023

Under the banner of CONEBI, the Confederation of the European Bicycle Industry,15 national bicycle industry associations and 68 companies have become signatories to a self-commitment to prevent...

23 Jan 2023

As Glasgow gears up to host the 2023 UCI Cycling World Championships, community groups have been given a share of more than £160,000 to boost bike use in the city.

23 Jan 2023

British Cycling has published new research, which shows the rising popularity of off-road e-bikes and electric mountain bikes (e-MTB’s) and highlights the need for improvements to cycling...

18 Jan 2023

The article reports that, in 2021, Halfords saw its annual cycling sales double and stocks dry up. However, by the middle of 2022, it says, warning signs were appearing as inflation and supply...

16 Jan 2023

Weston-super-Mare seems to be one town in the UK bucking the national trend, with new shops opening and businesses reporting an increase in trade, according to a report by Bristol Live.

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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