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Jan 17 2022 Sustainability: Well, but…
According to recent studies, more than a third of people under 40 pay attention to a sustainable lifestyle. However, interest in sustainability is strongly affected by pricing as well as the transparency of product information. What can be expected for the future?
Sustainability in the public awareness
According to recent surveys (e.g. commissioned by Zurich Group Germany or KPMG), more than a quarter of Germans and more than a third of those under 40 pay attention to a sustainable lifestyle. This statement is also valid for Austria and Switzerland, with minor deviations.
Young families – the origin of the “sustainability generation”?
Interviewees from households with children and the more highly educated are more likely than average to buy bio or fair-trade products and to volunteer for environmental protection or charitable projects. The majority expect climate protection to continue to gain in importance and see politicians as having a responsibility to ensure greater sustainability.
Transparency motivates
The connection between personal commitment and the result must be transparent. Transparency in product and pricing makes people less reluctant to pay higher prices for sustainable products. This experience is also confirmed by the success of online retail with products requiring explanation at the expense of stationary retail.
Sustainable investments – fear of the risks puts the brakes on
Younger people and households with children are more likely than average to own sustainable investment products. However, even people with high purchasing power and an affinity for sustainability show a high degree of price sensitivity and risk aversion. This makes sustainability stocks (e.g. for wind power or solar power) seem more interesting for institutional investors than for private individuals.
What is the conclusion?
Sustainability has arrived in the context of social values. People under 40, professionally successful and with above-average education are open to sustainable behavior. Nevertheless, the willingness to make compromises and sacrifices is low. This can probably be explained by the uncertain effect of sustainable measures, which will only be apparent in the long term.
What can you expect from moderning? Sustainability is not only prescribed, but also practiced. With qualitative research, moderning complements quantitative research approaches. Thanks to a holistic approach, interviewing experts enables us to generate meaningful target group profiles. These make sustainability your success factor, because you know who you are dealing with!