NPD Group, an American market research firm, has released a report that highlights the growing significance of sustainability to fashion consumers. However, the report has also found that the majority of customers don’t want to pay more for sustainable products. This leaves it all up to the brands to lead the sustainable way by providing eco-friendly products at reasonable prices.
One-third of consumers surveyed said that the social responsibility of a make was extremely important to their purchasing decisions. Some even said that they will pay more for sustainable apparels if it was so labeled, while two thirds said that they’d not shell out more for socially and environmentally conscious products.
In the survey, 18 to 34-year-olds said they are most likely to pay more for sustainable apparel. Women also ranked highly in this respect, with 33 percent replying that they would be willing to do so.
“Sustainability will continue to be an important topic for consumers and the industry in the years to come,” said NPD’s Chief Industry Advisor Marshal Cohen said, adding, “to attract consumers, particularly young adults and women, apparel brands and retailers will need to stay in touch with social responsibility issues, and educate and inform their customers with clear messaging and labeling about their sustainability efforts.”