We found that sustainability persists through tough
economic times.
Consumers around the world have been hit hard by inflation, which has severely impacted how they spend and save across all categories. Exponentially rising prices often lead to difficult decisions, such as trading up and trading down for specific products. From the start of 2023, consumer prices are expected to stabilize across all the regions surveyed, increasing consumers' spending capacity, and reducing the influence of value or price on the products they choose.
While higher prices affected consumer spending to some degree, 70% consumers chose not to swap sustainably packed products for alternatives. As sustainable habits have become a normal part of many consumers’ lives and dictate their product choices, they continue to favour these types of goods and services, even during economic struggles.
Despite price concerns and pressures from inflation, the value of sustainable packaging remains high, with consumers often willing to pay more for products with these benefits.
Younger consumers between the ages of 18 and 24 are the most willing to pay more for sustainable packaging, demonstrating their commitment to these types of products and acceptance of higher prices. In fact, on average 88% of consumers younger than 45 said they are willing to pay more, a significantly higher percentage than among consumers above this age (74%).
Trivium is a global manufacturer of metal packaging, with more than 60 locations and 7,500 employees around the globe.
For more information, contact us at www.triviumpackaging.com
The Buying Green survey was conducted by
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The findings in the 2023 Buying Green Report are as a result of one survey conducted by Euromonitor International. Trivium Packaging does not take responsibility for any independent reliance on the information as an outcome from this survey. Although all reasonable and diligent care has been used to ensure that the information provided in this report is accurate, complete and up-to-date, nothing contained herein shall, or may, be construed to imply any representation or warranty of any kind, including but not limited to, any representation or warranty as to the accuracy, currency or completeness of this information or non-infringement of any third party (intellectual property or proprietary) rights. Trivium Packaging has no obligation to update any statements contained in this report, unless required by applicable law.
