A new report by Monash University has cemented the power of sustainability in consumer retail products, aiding you with your approach to salon retail. The report from Monash Business School’s Australian Consumer and Retail Studies Unit shows that, despite cost-of-living pressures, 96 per cent of Australian consumers engage in sustainable practices, and 42 per cent are willing to pay more for sustainable choices.
The ARCS research unit surveyed 1,002 shoppers across Australia in June 2024 in order to better understand sustainability and consumerism. The findings, led by Dr Eloise Zoppos, showcase stats that 30 per cent of shoppers frequently or very frequently look for sustainable products when making a retail purchase, while only 12 per cent of Australian shoppers report that they never look for sustainable products. Additionally, the two most common ways shoppers decide if a product is sustainable or not is whether the packaging is recyclable, at 62 per cent, and whether the product can be recycled, at 59 per cent.
“When deciding if a product is sustainable, shoppers look for cues to make quick decisions and seem to focus more on the packaging or the product itself, rather than the labelling,” Dr Zoppos said.
Age also majorly contributes to how consumers approach both retail purchases and sustainability.
“Younger consumers, aged 18 to 34 years, tend to take public transport, buy second-hand products, and recommend eco-friendly products to friends, family and peers more than other age groups; while older Australian shoppers, aged 55 and over, engage in these practices significantly less than other age groups,” Dr Zoppos said. “On the other hand, older Australian shoppers, aged 55 and over bring their own shopping bags to stores, recycle product waste, and compost food waste significantly more than other age groups; while their younger counterparts, aged 18 to 34, engage in these practices considerably less than other age groups.”
Sustainability as a benefit to both the planet and business trends is becoming a primary facet in marketing, business operations and retail practices in 2024.
“While sustainability perceptions and practices may differ amongst shoppers, the positive shifts in the general attitudes and behaviours of shoppers demonstrate that sustainability is no longer a trend but a consumer movement – and retailers that are not just responding to this movement, but that are genuinely embedding sustainability into their business strategy, will resonate with consumers despite the current climate,” Dr Zoppos shared.
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