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A new study by Credit Suisse has found that millennials and zoomers from emerging economies are buying sustainable products more often than young people in developed countries.
According to the report, purchases by zoomers and millennials account for 48% of global consumer spending, a figure that could rise to 68% by 2040. The company surveyed 10,000 young consumers from ten countries and found that more than 80% of them try to shop as consciously as possible.
Consumers from emerging markets such as China, Mexico or India are more likely to prefer environmentally friendly and sustainable products than those from developed nations. The researchers also note that some 65% to 90% of respondents are anxious about issues related to sustainable consumption.
The study does not say what the difference in interest in environmentally friendly and sustainable products between young consumers from developing and developed countries might be due to. However, in a comment to Bloomberg, Eugene Klerk, head of case studies at Credit Suisse, suggested that the difference in views was likely related to climate change.
source: bloomberg.com
According to the report, purchases by zoomers and millennials account for 48% of global consumer spending, a figure that could rise to 68% by 2040. The company surveyed 10,000 young consumers from ten countries and found that more than 80% of them try to shop as consciously as possible.
Consumers from emerging markets such as China, Mexico or India are more likely to prefer environmentally friendly and sustainable products than those from developed nations. The researchers also note that some 65% to 90% of respondents are anxious about issues related to sustainable consumption.
The study does not say what the difference in interest in environmentally friendly and sustainable products between young consumers from developing and developed countries might be due to. However, in a comment to Bloomberg, Eugene Klerk, head of case studies at Credit Suisse, suggested that the difference in views was likely related to climate change.
source: bloomberg.com