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Despite cost-of-living squeeze, consumers remain committed to sustainability as demand for green retail grows, Sensormatic Solutions’ data shows
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NEUHAUSEN, Switzerland--(BUSINESS WIRE)--
Despite price sensitivity rising and European shoppers’ disposable incomes being squeezed by the cost of living crisis, consumers remain committed to sustainable shopping, the latest data from Sensormatic Solutions, the leading global retail solutions portfolio of Johnson Controls, reveals.
Original research of over 5,000 European shoppers in its latest report - ‘Greener Shopping: The New Era of Sustainable Retail’ – showed that consumers are highly invested in shopping sustainably. Over a third (34%) of European shoppers said they had become more sustainably minded since the start of the pandemic, with Spanish consumers ranking the highest of those whose attitudes to shopping had become greener since the start of the covid-19 outbreak (40%), followed by the UK (37%). And that is on top of the 10% of Europeans who were already conscious of the environment when shopping before the pandemic began.
And, despite growing pricing sensitivity as inflation across the continent continues to rise – with Sensormatic Solution’s data showing a third (32%) of European shoppers now cutting back on overall spend – sustainable products are proving to be more price elastic while green retail practices are continuing to drive loyal custom.
Three quarters (76%) of European consumers say they are willing to pay at least 5% more for products that are sustainable, rising to 81% of Italian and Spanish shoppers. Meanwhile 39% of European shoppers would shop more with a retailer that offered green products, and almost half (48%) would buy more frequently from those retailers who opted to make packaging more sustainable. Four in ten (41%) said local sourcing that cut down supply chain emissions would win their loyalty, while over a quarter (27%) said sustainable delivery options would encourage them to shop more regularly with a brand.
“These insights back up a belief we’ve held for a long time: prioritising sustainable solutions is simply good business,” said Nick Pompa, GM EMEA at Sensormatic Solutions. “Facilitating sustainable retail operations has been at the heart of Sensormatic Solutions business for some time; but now, that same sentiment is mirrored among consumers. Shoppers want to see brands make investments that support responsible retail at all levels, so much so that they don’t see engaging in sustainable operations as an option, but rather an obligation, for businesses.”
At a time when consumers are being more considered with their spend, shoppers increasingly want to know that their custom is going to companies that are doing the right thing when it comes to the environment. 60% of Europeans would like to see more waste reduction, including packaging waste, from the retailers they shop with. A further 40% would like to see less plastic use in retail operations, rising to 43% in Germany, while 45% would like brands to be more actively involved in recycling projects, rising to 51% in France.
With consumers holding varying definitions of “sustainable practices,” ranging from installation of energy-efficient displays to the use of alternative packaging, and participation in recycling programmes, when exploring options to bolster sustainable retail initiatives, retailers can decide which options work best for their business model. Modern retail analytics platforms, like Sensormatic IQ, can help support this business imperative. Sensormatic IQ’s integrated platform provides outcomes-based insights about enterprise operations, which can highlight areas of opportunity for sustainable improvements.
At Johnson Controls (NYSE:JCI), we transform the environments where people live, work, learn and play. As the global leader in smart, healthy and sustainable buildings, our mission is to reimagine the performance of buildings to serve people, places and the planet.
Building on a proud history of more than 135 years of innovation, we deliver the blueprint of the future for industries such as healthcare, schools, data centers, airports, stadiums, manufacturing and beyond through OpenBlue, our comprehensive digital offering. Today, with a global team of 100,000 experts in more than 150 countries, Johnson Controls offers the world`s largest portfolio of building technology and software as well as service solutions from some of the most trusted names in the industry. Visit www.johnsoncontrols.com for more information and follow @Johnson Controls on social platforms
About Sensormatic Solutions
Sensormatic Solutions is the leading global retail solutions portfolio of Johnson Controls powering operational excellence at scale and enabling smart and connected shopper engagement. Our intelligent digital operating platform – Sensormatic IQ – combines the full Sensormatic Solutions portfolio, including third-party data to deliver unmatched insights into shopper experience, inventory intelligence, loss prevention and operational effectiveness with advanced technologies, like AI and Machine Learning. This enables retailers to act on prescriptive and predictive data-driven outcomes to confidently move into the future. Please visit Sensormatic Solutions or follow us on LinkedIn, Twitter, and our YouTube channel.
