The Conference Board surveyed 30,000 consumers worldwide to understand their views on various aspects of sustainability.
The research revealed that consumers considered environment-friendly retail practises as the most important sustainability feature that determines their brand choice. But, the premium pricing of sustainable products was cited by consumers as the top deterrent to following through.
Brand communication was another major factor resulting in consumers’ inadequate trust and knowledge of companies’ sustainable claims. Though consumers expect brands to embrace sustainable retail practices, businesses should have a clear understanding of their customers’ values before taking a stand on any social cause.
Almost half of the global consumers hold back on buying from brands that take a social stand, in part because of consumer disagreements with the organisation’s position. Consumers also hold back custom, so they don’t appear to be endorsing a brand’s position on social issues.
[10 minute read]