Price V Planet

The majority of consumers — particularly younger consumers — say they are willing to pay extra for more sustainable promotional products. Recent surveys found between half to two-thirds of consumers said they will pay more for sustainable promotional products. For consumers aged 18 to 34, the percentage reaches 80%, according to the Business of Sustainability Index report. Similar survey results date back to at least 1989, when 78% of consumers claimed they would pay 5% more for promotional products in more sustainable packaging.

But retail executives are understandably skeptical: They see a long-running gap between consumer intentions and actual consumer behaviour. While consumers say they will pay more, although self-reported purchasing practices suggest otherwise. Consumers do care about sustainability — but they’re also weighing the costs. Retailers that deliver sustainability benefits in ways consumers understand and at the price points they desire will find ways to thrive. According to data, over half (53%) of consumers think more sustainable products cost too much, which might be attributed to consumer concerns about the economy. Consumers do care about sustainability — but they’re also weighing the costs. Retailers that deliver sustainability benefits in ways consumers understand and at the price points they desire will find ways to thrive.

Reports on greenhouse gas emissions hotspots and reduction levers for consumer decision-making. “Although environmental concerns are certainly here to stay, economic volatility pushes some behaviours to the background for some consumers,” says, vice president at Consumer Life. “Customers who are worried about inflation and high prices are less likely to factor sustainability into their purchasing decisions.” With inflation rates rising to 6.2% in 2022 from an average of less than 2% for the past decade and home mortgage rates climbing to almost 7% in early 2023 from less than 3% in 2021, it is no wonder that consumer priorities are shifting.

The cost of “greener” products is not a new concern. Back in 2011, 70% of consumers were worried about the “green premium” for more sustainable products. Concern about the additional cost for these products has declined over time as the cost differences with more traditional products has decreased — but cost concerns for all products, including more sustainable ones, increase in challenging economic times. We have been here before and during similar times. From 2008 to 2010, there was a notable rise in concerns related to cost, quality and efficacy of sustainable products.” It has been noted that current consumer concerns about the quality of more sustainable products rose 8 percentage points from 2020 to 2022.

Consumers claiming they lack sufficient knowledge to identify more sustainable products grew 6 percentage points and family resistance to sustainable products increased 5 percentage points during the same period. Despite financial worries, consumers are interested in buying more sustainable products and remain concerned about climate change and related sustainability issues. Research shows 62% of respondents identify climate change as an extremely or very serious issue. About one-third (32%) say they consider the environment all or most of the time when making purchases.

We are working hard to provide our customers with a wider range of alternative sustainable promotional products and corporate gifts.

“We aim to lead by example and show that profitability and purpose can go hand in hand. Our focus is set on protecting our planet, educating and encouraging our customers to come on board.”

The material, the recyclability, the branding, the certification, the packaging – are all elements of going greener.