Post by account_disabled on Feb 28, 2024 0:19:20 GMT -8
According to the Credit Suisse Research Institute , and published on the BNNBloomberg portal , in China, India and other emerging economies, young consumers are more ecological; They are more likely to purchase sustainable products and are more distrustful of corporate sustainability claims than their counterparts in developed countries.
Green anxiety is forcing consumers to look for ways to control their carbon footprint. Climate-conscious, predominantly young consumers are a force to be reckoned with.
young consumers are greener
According to a report by the consulting firm Deloite, Millennials and Generation Z came of age at the same time as online platforms and social networks; being able to share your opinions, influence distant people and institutions, and question authority in new ways. These forces have shaped their worldviews, values, and behaviors.
This has had a global impact, from #MeToo to Black Lives Changsha Mobile Number List Matter , to calling for climate change marches such as #FridaysFourFuture led by activist Greta Thunberg ; From demanding green products to challenging stakeholder capitalism, these generations are driving real change in society and business.
Although there is no precision regarding the Millennial generation, a reference corresponds to those born between January 1983 to 1994; Those born between 1995 and 2015 refer to approximately Generation Z: greener young consumers
Companies know this… and they take advantage of it to their advantage.
The survey by Research Institute, Credit Suisse, was conducted among 10,000 young consumers in 10 countries; suggests significant opportunities in the food, fashion, travel, tourism and housing industries for companies that offer products that align with their values and risks for those that do not.
Generation Z and millennials represent 54% of the global population and 48% of consumer spending, rising to 68% by 2040, according to the report.
Of particular importance in this regard is the role of the young emerging consumer, given the potential increase in purchasing power in the emerging world and the fact that, demographically, developing countries lean more towards younger consumers.
The survey also found more support among Generation Z and Millennials ; emerging economies for government regulation of unsustainable products or to ban them from the market altogether.
Why are young people more ecological?
Eugene Klerk, head of global ESG and thematic research at Credit Suisse , noted that the survey did not directly answer why Gen Z and Millennial consumers in emerging economies are more sustainably minded than those in developed nations. But he said climate change may explain the difference in attitudes.
First, consumers in emerging markets may have been more exposed to the impact of global warming than those in developed markets, which could explain why they are more committed to finding solutions.
Another reason could be that younger consumers in developed countries have a less sustainable lifestyle than consumers in developing economies.
These data would be reaffirmed by research carried out by Nielsen – a global information, data and audience analysis consultancy – on young consumers in five emerging economies: Brazil, China, India, Mexico and South Africa; and in five developed countries: France, Germany, Switzerland, the United Kingdom and the United States.
The results revealed that between 65% and 90% of respondents in the 10 countries had a "high level of anxiety" about issues related to sustainability. Three-quarters of greener young consumers said they intend to live more sustainably by spending more on things like: solar panels, electric cars and avoiding meat and fast food.
Additionally, Nielsen's assessment found that 80% of these consumers intend to purchase sustainable products as much as possible, while in China and India, more than 15% of respondents said all their purchases are now sustainably manufactured products. sustainable.
Young climate ambassadors
For these generations, leading a more sustainable life and being more self-sufficient is one of their priorities.
Failing to address your environmental concerns not only puts a company's reputation at risk—its future workforce as well. Both Millennials and Generation Z expect to work for environmentally responsible companies.
Green anxiety is forcing consumers to look for ways to control their carbon footprint. Climate-conscious, predominantly young consumers are a force to be reckoned with.
young consumers are greener
According to a report by the consulting firm Deloite, Millennials and Generation Z came of age at the same time as online platforms and social networks; being able to share your opinions, influence distant people and institutions, and question authority in new ways. These forces have shaped their worldviews, values, and behaviors.
This has had a global impact, from #MeToo to Black Lives Changsha Mobile Number List Matter , to calling for climate change marches such as #FridaysFourFuture led by activist Greta Thunberg ; From demanding green products to challenging stakeholder capitalism, these generations are driving real change in society and business.
Although there is no precision regarding the Millennial generation, a reference corresponds to those born between January 1983 to 1994; Those born between 1995 and 2015 refer to approximately Generation Z: greener young consumers
Companies know this… and they take advantage of it to their advantage.
The survey by Research Institute, Credit Suisse, was conducted among 10,000 young consumers in 10 countries; suggests significant opportunities in the food, fashion, travel, tourism and housing industries for companies that offer products that align with their values and risks for those that do not.
Generation Z and millennials represent 54% of the global population and 48% of consumer spending, rising to 68% by 2040, according to the report.
Of particular importance in this regard is the role of the young emerging consumer, given the potential increase in purchasing power in the emerging world and the fact that, demographically, developing countries lean more towards younger consumers.
The survey also found more support among Generation Z and Millennials ; emerging economies for government regulation of unsustainable products or to ban them from the market altogether.
Why are young people more ecological?
Eugene Klerk, head of global ESG and thematic research at Credit Suisse , noted that the survey did not directly answer why Gen Z and Millennial consumers in emerging economies are more sustainably minded than those in developed nations. But he said climate change may explain the difference in attitudes.
First, consumers in emerging markets may have been more exposed to the impact of global warming than those in developed markets, which could explain why they are more committed to finding solutions.
Another reason could be that younger consumers in developed countries have a less sustainable lifestyle than consumers in developing economies.
These data would be reaffirmed by research carried out by Nielsen – a global information, data and audience analysis consultancy – on young consumers in five emerging economies: Brazil, China, India, Mexico and South Africa; and in five developed countries: France, Germany, Switzerland, the United Kingdom and the United States.
The results revealed that between 65% and 90% of respondents in the 10 countries had a "high level of anxiety" about issues related to sustainability. Three-quarters of greener young consumers said they intend to live more sustainably by spending more on things like: solar panels, electric cars and avoiding meat and fast food.
Additionally, Nielsen's assessment found that 80% of these consumers intend to purchase sustainable products as much as possible, while in China and India, more than 15% of respondents said all their purchases are now sustainably manufactured products. sustainable.
Young climate ambassadors
For these generations, leading a more sustainable life and being more self-sufficient is one of their priorities.
Failing to address your environmental concerns not only puts a company's reputation at risk—its future workforce as well. Both Millennials and Generation Z expect to work for environmentally responsible companies.