UNDER AGE 30 CONSIDER SOCIAL ISSUES
Nearly
70 percent of consumers under age 30 consider social issues before buying
Retailers and manufacturers courting
Gen X and Y shoppers this holiday season should introduce more transparency
into their product labels and identify fair trade, conflict-free and
environmentally friendly practices, according to the results of a new survey by
KPMG LLP, the audit, tax and advisory firm.
The survey of 1,000 adults, 18 years
of age and older, taken from Nov. 7 – Nov. 10, 2013 reveals that nearly 70
percent of consumers under age 30 consider social issues such as
sustainability, human rights and fair trade before making a purchase. This
outpaces the less than 50 percent of consumers overall who feel the same way.
As companies brace themselves for
the holiday shopping season and work to identify cost savings and efficiencies
from their suppliers, government regulations are also focusing on social issues
across supply chains.
"Many of the regulations are
accelerating trends that would take place anyway," said Jim Low, Audit
Partner, KPMG LLP. "Retailers are increasingly asking their suppliers to
assess their environmental and social sustainability. Several of the leading
retail and grocery chains have recently introduced ranking systems to help
consumers identify sustainable products. Consumers and investors continue to
increase pressure on companies to adopt more sustainable practices."
Bigger price tags spark greater
concern
The survey reveals that young
consumers focused more on social issues when considering big ticket purchases
such as automobiles, computers, consumer electronics and jewelry versus
everyday items such as gasoline, toys and food. Thirty-four percent of
consumers under 30 always or frequently consider social issues when buying
everyday goods versus 41 percent when buying big ticket items.
http://www.retailcustomerexperience.com/article/224523/Nearly-70-percent-of-consumers-under-age-30-consider-social-issues-before-buying?rc_id=233
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