Retailers and store brands that demonstrate sustainable and ethical business practices are more likely to earn a U.S. shopper’s loyalty, according to a study by Valassis.
Valassis, owned by the data intelligence company Vericast, surveyed more than 1,000 U.S. shoppers attempting to identify the habits and perceptions of shoppers as they settled into a “new normal” of pandemic life.
The 2021 Consumer Intel Report found a large majority of shoppers, regardless of their age, are more loyal to retailers and brands that demonstrate eco-friendly, ethical business practices.
The study found that consumers want retailers and brands to be more conscious about the Earth and social issues. The study found 72% of older adults, and parents of millennials, were more likely to be loyal to a brand or store that was environmentally responsible or has sustainable or ethical business practices. This is joined by 63% of millennials saying they’re willing to pay more for products if they were sustainable products.
Store brands could benefit by the study’s findings, especially in two key areas. In addition to social and environmental responsibility, 82% of respondents reported the most important thing when shopping for grocery products is to save the most money and going to a store with the lowest prices. Another 52% said that a sale will help them to make an impulse purchase.