In a new survey conducted in the US by McKinsey & Company on Sustainable Packaging, the headline is that consumers are willing to pay more for eco-friendly packaging...
Among consumers in the United States, five key findings emerge:
- Price, quality, and convenience are still consumers’ top buying criteria for products, while environmental impact continues to be one of the lowest-ranked factors (however, this is not true for all consumer groups).
- While respondents named hygiene, food safety, and shelf life as the most important characteristics for product packaging when making a purchase, 43 percent of consumers still say environmental impact is an extremely or very important packaging characteristic when making purchasing decisions. That said, the overall relative importance of environmental factors for consumers has decreased somewhat.
- Among concerned consumers, the impact of ocean litter has become the primary environmental issue across all generations, regions, and neighborhoods; all other concerns have decreased in importance since 2020.
- Most consumers do not have a strong understanding of which packaging types are more sustainable but seem to favor compostable and plant-based packaging.
- Most consumers are willing to pay more for sustainable packaging. In fact, in each end-use category surveyed, 4 to 7 percent of consumers are willing to pay a premium well above 10 percent.
The key takeaway from their survey is that winning in sustainable packaging in the US market will require a granular approach. Done right, products with clear environmental credentials are clearly outgrowing their peers. However, there is no universal solution.
You can read the whole report here...
Posted by Justin Hobson 11.05.2023
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