Younger generations willing to pay up for Fair Trade
The COVID-19 pandemic has changed the world, and more consumers than ever are affecting the global marketplace with their strong commitments to positive social and environmental impacts through their purchasing power.
Fair Trade USA’s new consumer insights report: Taking Action: Now is the Time for Conscious Consumerism and Fair Trade highlights the data that shows this continuing shift in preference and motivation that promises to reward brands and companies who are committed to making a difference in communities around the world.
“This research tells us that people are intentionally gravitating toward products that make a positive impact, and that Fair Trade Certified goods allow them to meet
that demand more than ever,” Paul Rice, founder and CEO of Fair Trade USA, said in a press release. “The data clearly shows that this surge in conscious consumerism is being led by younger generations. They care about their future, the environment and the people behind the products they buy.”
Overall awareness of Fair Trade Certified has nearly doubled in the last ten years.
A few report highlights include:
Younger Generations
Millennials and Gen Z are showing that global systems change might be possible.
- 83% - Millennials indicated increased trustworthiness of the Fair Trade Certified label and the impact it has on decision making.
- 76% - Millennials recognize the Fair Trade Certified label.
- 50% - Gen Zs will pay a premium for Fair Trade Certified products.
Sustainability is Good for Business
Businesses are realizing the advantages of shifting their practices toward equitable and ecological production. Their products will be more popular to consumers.
“More than 1,400 companies have chosen Fair Trade Certified to meet sustainability goals, increase brand trust and reach more shoppers,” Rice said in the release.
Read the full report here.
