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21 Feb 2024

The latest quarterly State of the Industry survey from the National Hair & Beauty Federation (NHBF) shows that the recovery of the sector was slow and steady through 2023 and into January...

21 Feb 2024

The UK has voted for its favourite pun-based shop name, and 'Sew It Seams' - a clothing alteration store in Belfast - has been awarded the top spot. 

21 Feb 2024

Businesses in the Devon town of Ottery St Mary have praised their local council for initiatives designed to help support them and boost trade.

19 Feb 2024

A new ranking of the most popular independent coffee shops in the world has put three UK cafes in the top 10.

19 Feb 2024

Older people could be the financial shot in the arm needed for Britain’s high street, according to research commissioned by the University of Stirling. 

8 Feb 2024

The ACS (the Association of Convenience Stores) has celebrated the crucial role that rural shops play in thousands of communities across the UK in its 2024 Rural Shop Report.

8 Feb 2024

New research reveals that Apple Pay and contactless payments have overtaken cash payments by a landslide as our favourite ways to pay in-store.

5 Feb 2024

The Federation of Independent Retailers (the Fed) has expressed alarm at new figures that show shoplifting at its highest level in 20 years.

5 Feb 2024

A brand-new festival is being launched next month is “all about community and breathing life into the High Street”, according to Mark Kacary, managing director of The Norfolk Deli in...

5 Feb 2024

The retail sector has been responding to government plans to ban disposable vapes as part of plans to tackle the rise in youth vaping.

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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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