The younger generations are the most committed to ecology and the environment. In fact, 61% of millennials are willing to pay more for sustainable and eco-friendly products, according to the GlobalWebindex study.
Today’s new consumers buy what they need, look at product labels and are informed by origin and composition. Beyond recycling, the trend is towards the circular economy, i.e. a change in the way we produce and consume in order to give products a longer life.
Millennials are driving the change in the way people consume, as they are a group of people who, unlike older generations, include factors such as the corporate social and environmental responsibility as decisive elements when deciding on a brand or product. They also influence other age groups to change their purchasing behaviour.
As we live in an increasingly connected world, consumer awareness of what, how and where we consume is growing. This awareness is not only related to recycling or reducing the use of plastics, but, for example, they also reduce the number of flights they take and opt for sustainable and environmentally responsible brands.
This concern for the environment also extends to the business world. According to a Morgan Stanley study, 86% of millennials are interested in investments related to sustainable business. This is why many companies and businesses are developing new strategies to make their products and services more sustainable.
As the climate crisis continues to affect our lives, awareness of the need to act sustainably is growing among consumers of all ages, albeit at different rates. This generation is considered to be the most committed to sustainability, leading this trend and marking a new and particular profile for both consumers and investors.
