Studies conducted by both Trivium Packaging and Mckinsey concluded that US consumers are willing to pay more for sustainable packaging.
Trivium Packaging Research
- Trivium Packaging's research in partnership with the Boston consulting group found out that 74% of consumers are willing to pay more for sustainable packaging.
- The research interviewed 15,000 people from the US, Europe, and South America and asked for their sustainable packaging preferences.
- More than two-thirds of the people interviewed concurred that environmentally friendly, recyclable packaging is important.
- Additionally, the research found out that "of the 74% who said they would pay more for sustainable packaging, nearly one-fourth are willing to pay for an increased cost of 10% or more."
- According to Michael Mapes, CEO of Trivium, consumers' focus nowadays is on sustainable living. These consumers are willing to pay extra for goods and services in order to protect the planet. He added that brands can use this opportunity to influence consumers' purchasing decisions by offering them environmentally friendly options.
- Furthermore, the research by Trivium also revealed that 50% of consumers shy away from harmful packaging.
- Lastly, the report also showed that "60% of consumers said they are less likely to buy a product in harmful packaging, and those who associate plastic with being harmful also cite it as being 80% more harmful than metal."
- Another study conducted by McKinsey found out that 55% of US consumers are extremely or very concerned about the environmental impact of product packaging.
- Additionally, 38% of US consumers said it is extremely or very important that the products they are purchasing have sustainable packaging.
- The study also revealed that 60% to 70% of consumers would pay more for sustainable packaging.
- However, 52% of US consumers would buy products with sustainable packaging if they did not cost more than their conventionally packaged substitutes.
- Nonetheless, "consumers want plastic film and rigid packaging to be recyclable or to include higher levels of recycled content."