Swedish Consumer Attitudes Toward Sustainable Products

Swedish Consumer Attitudes Toward Sustainable Products

As the world evolves, sustainability has emerged as a cornerstone for consumer decision making. Kantar Media's recently unveiled Consumer Insights Report 2024, conducted on the behalf of Voyado, offers a comprehensive exploration of Swedish consumer attitudes towards sustainable products, underlining critical trends and implications for businesses navigating this dynamic landscape.

  • Cost Concerns: It does not come as a surprise but a primary hurdle hindering widespread adoption of sustainable products is the perceived high cost. As much as 67% of respondents expressed concerns about the affordability of sustainable alternatives. A significant portion (48%) cited a lack of clarity regarding what constitutes a sustainable product as a barrier to adoption.

  • Embracing Circular Economy Principles: Swedish consumers are increasingly embracing the principles of the circular economy, with a notable uptick in second-hand purchases and repair services. Over 60% of respondents reported a willingness to explore second-hand options, driven by both environmental concerns and economic considerations.

  • Shifting Dynamics of Responsibility: There is a discernible shift in the dynamics of responsibility, with consumers placing greater expectations on businesses to champion sustainability. While individuals acknowledge their role in making conscious choices, a staggering 72% believe that companies bear the primary responsibility for driving sustainability efforts.



Demographic Insights

 

  • Age Disparities: Younger consumers, particularly those aged 18-29, exhibit a stronger inclination towards sustainability. This demographic segment displays a higher willingness to pay for sustainable options and actively engages in purchasing second-hand items.

  • Gender Variances: Women emerge as sustainability champions, with a higher willingness to pay for sustainable products. However, both genders prioritize affordability, indicating a need for businesses to offer economically accessible sustainable alternatives.



Implications for Businesses

 

  • Innovation Imperative: There is a need to innovate to develop circular and sustainable products that are not only environmentally friendly but also economically accessible. With over half (55%) of consumers willing to pay more for sustainable options, there is a clear market opportunity for businesses to capitalize on.

  • Educational Endeavors: Transparent communication and educational initiatives are paramount. Over 40% of consumers cited a lack of information as a significant barrier to sustainable purchasing, highlighting the need for businesses to bridge this gap.

  • Corporate Sustainability: Embracing corporate sustainability initiatives is essential for building consumer trust and loyalty. A staggering 84% of respondents expressed a preference for companies that demonstrate a commitment to sustainability.



Conclusion


In essence, the report underscores the importance of aligning business strategies with consumer preferences and expectations in the pursuit of a more sustainable future. By understanding the shifting dynamics of consumer behavior, particularly regarding cost concerns, the embrace of circular economy principles, and the evolving sense of responsibility, businesses can position themselves as leaders in sustainability. To access the full Consumer Insights Report 2024 click here.

 

 



Author: Erika Johansson, Ph.D.

Title: Founder and CEO

Company: Fellow Future

Contact: info@fellowfuture.com