Retail Times
NFU Mutual
ADVERTISEMENT
  • HOME
  • RETAIL CATEGORIES
  • PRODUCTS
  • TECH
  • DATA
    • Reports
    • Research
  • RETAILER
    • Manufacturer
    • Wholesaler
  • PEOPLE
  • SUSTAINABILITY
    • Fairtrade
    • Packaging
  • SERVICES
    • Events
    • Awards
    • Logistics
  • COMMENT
    • In My Opinion
    • Featured Article
    • Why It Works
  • ABOUT
    • CONTACT
    • ADVERTISING
    • RETAIL TIMES NEWSLETTER
No Result
View All Result
Retail Times
No Result
View All Result
  • HOME
  • RETAIL CATEGORIES
  • PRODUCTS
  • TECH
  • DATA
    • Reports
    • Research
  • RETAILER
    • Manufacturer
    • Wholesaler
  • PEOPLE
  • SUSTAINABILITY
    • Fairtrade
    • Packaging
  • SERVICES
    • Events
    • Awards
    • Logistics
  • COMMENT
    • In My Opinion
    • Featured Article
    • Why It Works
  • ABOUT
    • CONTACT
    • ADVERTISING
    • RETAIL TIMES NEWSLETTER
Retail Times
No Result
View All Result

Deloitte: high prices continue to come at a cost to the planet, but sustainable products are a priority for consumers

by Fiona Briggs
October 23, 2023
in Data
Reading Time: 3 mins read

Cost is an increasingly large barrier to a more sustainable lifestyle in 2023, with the majority of consumers saying they haven’t adopted sustainable behaviours in the last 12 months because it is too expensive, according to the fourth edition of Deloitte’s Sustainable Consumer 2023 report. The survey of 2,000 people in the UK showed that, of the consumers who did not adopt a more sustainable lifestyle, 62% blamed cost, up 10% on 2022.  

One in four are prepared to pay more to protect biodiversity (26%), for more sustainable products and packaging (24%), or for suppliers that respect human rights (25%). 

However, many consumers are making more conscious sustainable purchasing decisions, with close to one in three (30%) saying they have stopped purchasing certain brands or products because of ethical or sustainability-related concerns.   

For most consumers, sustainability starts at home, with the majority adopting activities such as recycling (76%), reducing food waste (68%) and limiting single use plastic (64%).  

Adopting circularity 

There has been an increase in consumers adopting circularity (the practice of renewing, reusing or recycling something) in the past year. The research shows that over half (55%) repaired an item instead of replacing it (53% in 2022) and 46% bought second hand or refurbished items (40% in 2022). In addition, 76% say they would consider using a repair service (73% in 2022). 

Emily Cromwell, ESG lead for the consumer industry at Deloitte, commented: “For most, adopting a more sustainable lifestyle starts with recycling or reducing waste at home. However, many consumers are beginning to actively consider sustainability when buying products and services, as well as considering their overall lifecycle. 

“The cost-of-living crisis is also having an impact, with sustainable behaviours that help people to spend less seeing the largest year-on-year uplift, and given inflationary pressures, the increasing adoption of circular practices could be more about saving money than saving the planet. Whatever the reason, the growth of conscious buying habits is welcome. The question is, how much of this behavioural change will become permanent?”

Consumers cut back on energy consumption 

Almost a quarter of consumers (23%) have switched to what they believe is a renewable energy supplier in the past 12 months. While most consumers have tried to lower their energy consumption by cutting things like heating (81%) and washing clothes at a lower temperature (74%), a third or less have invested in longer term energy-saving solutions such as home insulation (25%), solar panels, energy-efficient appliances (36%) or double glazing (31%).  

Looking ahead to the next 12 months, the majority intend to continue to reduce their energy consumption wherever possible, but just over one in ten plan to install solar panels or replace their boiler with a heat pump.  

Taking stock to gain trust 

A third (34%) of consumers stated that their trust in brands would be improved if they were recognised as an ethical/sustainable provider by an independent third party. A similar proportion (32%) claimed that their trust in brands would be improved if they had a transparent, accountable, and socially and environmentally responsible supply chain. Consumers also value net-zero goals, with 27% saying they would trust brands more if they target net-zero by reducing carbon emissions, rather than relying on carbon offsetting.  

Cromwell added: “Consumers want businesses and institutions to take the lead in supporting them in their adoption of more environmentally sustainable habits and are prepared to be loyal to those who do. It is key that businesses work together with policymakers not only to make sustainable choices more affordable, but also to share better information around the impact of buying choices on the environment. This will be key to support a long-term change in consumer behaviour.” 

Share This Article

Similar News Articles:

  1. Cost and sustainability fatigue stifle consumers’ efforts to adopt more sustainable lifestyles, Deloitte reports There is evidence of growing consumer fatigue when it comes to making sustainable choices in 2024, according to the fifth...
  2. Declining basket sizes continue to be the thorn in Ocado’s side as consumers are deterred by prices, says GlobalData Following today’s release of Ocado’s figures for 13 weeks to 26 February FY2022/23; Joe Dawson, retail analyst at GlobalData, a...
Tags: Deloitte
TweetShareShareSend
ADVERTISEMENT

🗞️ TRENDING AND POPULAR

  • Price of a healthy packed lunch for children has gone up in four out of five major supermarkets since August, data shows

    21 shares
    Share 8 Tweet 5
  • Tesco nightclub: tickets LIVE & headliners announced

    14 shares
    Share 6 Tweet 4
  • Aldi unveils limited-edition ‘Supernova Champagne’ for Oasis return

    8 shares
    Share 3 Tweet 2
  • MRI Software: footfall on high streets increased by +11.5% compared to the year previous, the most significant annual rise since July

    440 shares
    Share 176 Tweet 110
  • Plans for new EV super hub off the A34 given go-ahead

    441 shares
    Share 176 Tweet 110
  • McVitie’s launches limited edition Pink Digestives Raspberry & Cream flavour

    5 shares
    Share 2 Tweet 1

FEATURED ARTICLES

Top new product: Brother refreshes compact labelling lineup with new linerless capabilities

Top new product: Brother refreshes compact labelling lineup with new linerless capabilities

February 21, 2025
SOLUM

Innovation in retail: creating memorable shopping experiences with interactive digital screens

February 19, 2025
uk Retail

UK retail in flux: adapting to economic pressures, tech shifts and rising crime

May 12, 2025
Solum esl Solum esl Solum esl
ADVERTISEMENT

NFU Mutual NFU Mutual NFU Mutual
ADVERTISEMENT

Sign up to our Newsletter!

Retail Times

Retail Times - Pages

  • HOME
  • News Categories
  • Contact us
  • Advertising
  • Editorial
  • Newsletter
  • Copyright
  • Privacy & Cookie Policy

No Result
View All Result
  • HOME
  • Featured Articles
  • UK Retail Categories
  • About us
  • Advertising
  • Contact
  • Privacy policy