65% of young consumers are ready to pay a premium for brands that stand for something and have corporate social responsibility programmes aligned with their values.
According to a recent study conducted by the NPD Group, consumers are now paying closer attention to a manufacturer’s or retailer’s position on current social, environmental, and political issues.
Younger consumers, especially Generation Z consumers born after 1997, are particularly sensitive to a company’s stance on social and environmental issues, which is important considering this young age cohort are just now entering the workforce and will account for 40% of all consumers in 2020.
55% of Millennials, born between 1981 and 1996, and 49% of Baby Boomers, born between 1946 and 1964, reported that a company’s politics would affect their buying decisions.
Source: NPD Group
Thanks!
Our editors are notified.