Sustainability still a priority for young shoppers this Christmas
New research released by SAP has revealed that over half (52%) of customers aged 18-34 are actively looking to shop with retailers with strong sustainability credentials this Christmas, despite ongoing cost-of-living struggles.
Although less than a third (30%) of all UK consumers are prioritising sustainability, almost two in five (39%) of 18-34 year olds are prepared to even pay more for a sustainable product or service.
40% of UK customers are prioritising food and drink when it comes to their Christmas spending this year, and 43% said they intend to source food for their Christmas dinner locally. This number rises to 54% in younger respondents.
Locally sourced food was the favourite sustainability option amongst the respondents, with only 27% saying they would consider second-hand or up-cycled products as gifts. This number rose to 49% in young consumers however, compared to only 12% of over 55’s.
Only a third of all consumers said they were willing to wait longer to obtain sustainable products or services. Again, this number was higher in younger groups, with over half (51%) of 18-34 year olds saying they were open to waiting longer for sustainable options. Compared to 28% of 35-54 year olds and 24% of 55+.
Although spending is expected to fall this year, Black Friday and Cyber Monday still represent important calendar events for consumers looking to grab some discounted products. 36% of UK consumers plan to shop more online this Christmas.
According to the data, younger generations are more inclined to shop online, with 46% of 18-34 year olds planning to do all of their shopping on the internet, and almost half said they plan to shop equally between online and in-store.
56% of people cited convenience as the main reason to shop online, amongst other factors including avoiding crowds (47%), better prices and offers (40%), saving money on travel (24%), and wanting to avoid COVID-19 or other illnesses (17%).
Goutam Dev, vice president, Strategic Customer Program and Consumer Industry Group, SAP UK & Ireland, said: “To continue to attract customers, retailers and consumer goods organisations need to focus their efforts in three key directions – providing unrivalled customer experience, maintaining high sustainability credentials, and ensuring resilient value chains.”