Brits willing to pay more for sustainable products, despite cost-of-living

Amidst concerns that the government is backsliding on their green pledges, millions of Brits have accepted they will need to expand their pockets to commit to climate action, admitting they are willing to spend up to 25% more for sustainable products, according to a new poll from Yonder.

Still weathering the storm of high inflation, combined with the soaring cost of living, the nation has acclimatised to learned green behaviours adopted during the pandemic. In fact, observations from Britain’s leading sustainability consultants, SaveMoneyCutCarbon, note that despite high prices consumers’ eco habits adopted over the last few years remain consistent. This comes alongside their proprietary research which shows that over two-thirds (66%) of Brits agree maintaining eco habits to save precious pounds amidst inflation.

Independent research from SmartestEnergy backs this noting four out of five people describe themselves as more likely to choose a brand with a positive approach to environmental sustainability. Furthermore, 22% (11.7 million) Brits will only support businesses that put sustainability at the forefront of their operation.

Witnessing these trends, Mark Sait, CEO of SaveMoneyCutCarbon, argues that British society is currently undergoing the largest behavioural shift seen in a generation, even as inflation slows, this learned behaviour persists.

“Consumers continue to be battered by inflation but we’re finding that the eco habits adopted during the pandemic have remained strong. And independent research commissioned by SmartestEnergy backs this – 4 out of 5 people describe themselves as likely to choose a brand with a positive approach to environmental sustainability.

“They are much more selective about the eco products they choose and more careful about how much they are spending. The trend is more towards buying just enough and not being tempted by associated product offers. The impulse buy will return when inflation eases and people feel better off.

“Domestic consumers haven’t stopped being committed to reducing plastic use and creating less waste, along with the pressing need to cut energy and water use, taking control of rising bills. For example, in announcing an extension to the single-use plastics ban in January, the Department for Environment, Food & Rural Affairs (Defra) said that over 95% of those who responded to its consultation were in favour of the further restrictions.

“Just one example is ecoegg bamboo towels – on average if you switch from regular kitchen towels to reusable bamboo you can save on average £69 annually and we’ve seen sales increase by 40% this year.  Consumers know that many eco products are a similar price or cheaper than traditional options and are always looking for more information.  The SaveMoneyCutCarbon app platform gives them what they need to make the best decisions.

“Businesses can also offer our app combined with our learning platform, EcoWise, to their staff and provide an engaging, useful and entertaining way to learn more about being sustainable, while greatly strengthening the social element of their Environmental, Social & Governance (ESG) policies.

“Companies also want advice and proof points on what holistic solutions will lead to demand reduction in energy and waste and which strengthen their ESG policies at the same time.”

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