Are customers really willing to pay more for sustainable packaging?
Consumers are ready to pay more for products that come in sustainable packaging, according to new research from Trivium Packaging and Boston Consulting Group.
The report surveyed consumers on their packaging preferences, finding that 74% said they would pay more sustainable packaging or packaging they deemed environmentally friendly.
Of the 74% of consumers who said they would pay more for sustainable packaging, nearly a quarter were willing to pay an increased cost of 10% or more.
The report also found that a majority of consumers identified themselves as being “environmentally aware”, with more than two out of three saying they thought recyclable packaging was important.
The report echoes findings by YouGov, which found that 46% of British consumers say they feel guilty about the amount of plastic they use – and that this feeling motivates them to change their behaviour.
50% of respondents to YouGov’s survey said they would pay a higher price for more sustainable packaging, while 69% said they felt companies should be legally required to produce eco-friendly packaging.
YouGov’s research can be found here.