Sustainability information is crucial for consumers when making shopping decision and 67 per cent of global consumers are more likely to purchase products if sustainability information is well-presented, according to a recent survey. Consumers insist on prioritising products that will not end up in a landfill, and instead prefer ones that are reusable (71 per cent) or recyclable (70 per cent).
Despite this, consumers say information on a product’s reusability (34 per cent) and recyclability (30 per cent) is difficult to find, Productsup, a product-to-consumer (P2C) software company, said in its report titled ‘The commerce shortfall’. The report is based on a survey of nearly 5,700 consumers aged 16 and up across the US and Europe.
The report added that companies can leverage relevant sustainability information to build consumer trust. The data shows providing further explanation of what makes a product organic, free-range, or eco-friendly is the leading step to boost consumer trust in ethical brands and products (43 per cent).
Conversely, supporting causes in line with sustainability labels (27 per cent), partnerships with global non-government organisations (26 per cent), and positive press about ethical practices (22 per cent) were the least influential, as they could be seen as ‘cause-washing’.
Considering sales for non-fungible tokens (NFTs) are declining, the report revealed that this may be because many consumers (60 per cent) are still not interested in buying virtual-only goods. However, there are clear signs that this will change, with 40 per cent of shoppers currently excited to buy virtual products that will enhance their experience. This is especially true for younger generations as acceptance of virtual goods was twice as high for those aged 16-24 (50 per cent) compared to those aged 55+ (26 per cent).
Most interested in making purchases in the metaverse are consumers based in Spain (63 per cent), Italy (55 per cent), and the US (47 per cent), while the least interested are Denmark (31 per cent), the UK (32 per cent) and Norway (36 per cent), according to the report.
Furthermore, today’s shoppers want hybrid experiences – physical, digital, and virtual. Globally, respondents revealed they were more likely to make a purchase if their shopping experience includes a mobile app that provides more product information while shopping in-store (47 per cent), as well as virtual and augmented reality while shopping online (42 per cent).
Fibre2Fashion News Desk (KD)