A new Stifel survey shows consumers believe it’s important for companies to act sustainably and most are willing to pay a premium for brands that demonstrate ethical business practices, environmental care and social responsibility. Based on this insight, Stifel has introduced its Sustainable Lifestyle Brands Index, which ranks brands based on consumer perception of corporate sustainability practices.
Stifel, working with Morning Consult, surveyed 4,756 U.S. active/casual lifestyle brand consumers ages 18-to-55 and found:
- 83 percent believe it’s important for brands to act sustainably, and 39 percent consider it “very important.”
- 71 percent report caring more now about buying sustainable products than a year ago, and 58 percent intend to buy fewer products for the sake of sustainability.
- More than two-thirds, 67 percent, are willing to pay more for brands with sustainability practices, and a half, 52 percent, regularly opt for more expensive products.
- 43 percent of respondents consider protecting local environments and ecosystems a top priority.
- Nearly half, 46 percent, have either boycotted or stopped buying a brand or product specifically because of sustainability.
“We believe consumer appreciation for sustainable brands is reaching an inflection point,” said Jim Duffy, managing director and Sports and Lifestyle Brands Analyst, Stifel. “The empowered and connected consumer is armed with more available information about products and brands than ever before, and we are seeing an increasing emphasis on sustainability in personal values and buying behavior.”
For the full survey, go here.
Photo courtesy Stifel
