Third annual Business of Sustainability Index reveals increasing sustainability demand from Americans, especially among young people and parents.
ATLANTA, GEORGIA, April 26, 2023 (PRNewswire) – Despite inflation and economic uncertainty, more than two-thirds of Americans (68%) are willing to pay more for environmentally sustainable products compared to competitors that are not sustainable, according to the third Business of Sustainability Index (“BOSI”) by PDI Technologies, a global leader delivering powerful solutions and insights that serve as the backbone of the convenience retail and petroleum wholesale ecosystem. The data demonstrate the steady growth in demand for sustainability across the U.S., compared to 64% and 66% of Americans saying they would pay more for sustainable products in BOSI 2021 and BOSI 2022, respectively.
Young people are especially open to paying more for sustainable products, with 77% of Gen Z (ages 18-26) and 72% of Millennials (ages 27-42) saying they would do so. Parents were also prepared to open their wallets for sustainability, with more than three-fourths (76%) noting they would pay more.
When asked about purchasing gasoline specifically, 64% of Americans said they would pay more at the pump if the carbon emissions were offset with sustainability efforts, such as planting trees. That number was even higher for Gen Z (76%), Millennials (67%), and parents (74%).
“Over the past three years, BOSI has measured Americans’ accelerating demand for sustainability to help companies better understand how to meet those evolving needs,” said Brandon Logsdon, President of Consumer Engagement, PDI Technologies. “The data is clear: Consumers overwhelmingly want sustainable products and are willing to pay more for them. Companies that understand sustainability as a strategic business asset are well positioned to gain market share and grow faster than their competitors.”
Americans Report Difficulty Finding and Trusting Sustainable Offerings
While 79% of Americans say they want to buy from brands that are environmentally friendly, most don’t know how to identify these companies. This is overwhelmingly true for Gen Z (91%), Millennials (80%), and parents (85%).
There is also a growing dissatisfaction with how companies are approaching sustainability. Nearly half (45%) of consumers say they believe American corporations are doing a poor job when it comes to reducing their carbon footprint and the footprint of the products or services they sell, an increase from 41% in BOSI 2022. Noticeably, 37% of Gen Z wants corporate profits to support environmental organizations, a nine-point increase over all respondents (28%). Read the full BOSI report online.
“Consumers want sustainability but struggle to find it. Even when they do, they often don’t trust the environmental claims companies make. Leveraging internal tools and third-party accreditation to help measure, track, and communicate progress will continue to differentiate the sustainability gains of their products, services, and overall enterprises,” Logsdon continued.
PDI Sustainability Solutions was established in March 2022 when PDI acquired GreenPrint, which administered BOSI in 2021 and 2022. With its current programs and forward-looking innovations, PDI is helping to lead the convenience ecosystem through energy transition and the growth of elective vehicles (EVs). To learn more about how retailers and brands can use loyalty to fund sustainability initiatives that meet ecofriendly consumer desires and improve business results, visit PDI Sustainability Solutions.
About the Survey
This Xcelerant survey was conducted online by Directions Research, independently recognized as one of the nation’s leading business decision insight firms. The survey was fielded from March 30 to March 31, 2023, among a demographically balanced nationally representative sample of 1,038 U.S. adults 18 years of age and older. To ensure consistent and accurate representation of the U.S. general population 18 years of age and older, data are weighted to match the U.S. Census data by the following variables: sex, age, geographic region, race/ethnicity, and education. Weighting factors for each respondent are developed through a custom algorithm.
About PDI Technologies
With 40 years of industry leadership, PDI Technologies, Inc. resides at the intersection of productivity and sales growth, delivering powerful solutions that serve as the backbone of the convenience retail and petroleum wholesale ecosystem. By “Connecting Convenience” across the globe, we empower businesses to increase productivity, make informed decisions, and engage faster with their customers. From large-scale ERP and logistics operations to loyalty programs and cybersecurity, we’re simplifying the industry supply chain for whatever comes next. Today, we serve over 200,000 locations worldwide with solutions like the Fuel Rewards® program and GasBuddy®, two popular brands representing more than 20 million active users.
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