However, sustainable solutions are democratizing across industries and price points, putting them in reach of a wider variety of consumers. In addition, environmental concerns and activism are growing stronger across populations, driving more demand for sustainable solutions across products and price points. No longer are sustainable solutions only restricted to those with means.
The question insight professionals need to tackle when navigating this myth centers around targeting. What segment of consumers does your brand serve today? Will your sustainable solutions be targeted at this segment or will they be used to build relationships with adjacent or new consumer segments? The focus on income levels only tells part of the story. In fact, Eastman’s consumer research has identified potentially underserved consumer segments across generations and incomes that could be hungry for new sustainable solutions for brands looking to appeal to them.
Consumers Seeking Out Sustainable Solutions
Focusing on Gen X and Boomer populations, there is little daylight between high- and low-income consumers when it comes to their concerns around environmental issues, their desire for brands to do more to live a sustainable lifestyle, and their initiative to seek out sustainable solutions. Although the Gen X+ segment is less open to sustainable solutions relative to younger consumers, opportunities exist for brands targeting this cohort to offer sustainable solutions that appeal across income levels.
When it comes to Millennials, they tend to stay true to the myth–leave it to us Millennials to prove a stereotype. Although environmental concerns are consistent across low- and high-income groups, higher-income Millennials are 15 percentage points more likely to expect brands to do more to support their sustainable lifestyles and nearly three times more likely to actively seek out sustainable solutions. For brands looking to protect or grow their relationship with Millennials through sustainability, focusing on the high-end or luxury segment is likely the best approach.
For Gen Zers, the trend is in reverse of the Millennials–another great proof point in how Gen Z and Millennials are very different generations. Lower-income Gen Zers are significantly more likely than those with high incomes to feel eco-anxiety and to actively seek out sustainable solutions. Lower income Gen Zers may be an underserved market, hungry to make a positive impact on the environment but with very limited options.
Brands looking to build a long-term relationship with Gen Z through sustainability should tap into this eco-anxiety with affordable, sustainable solutions that help these eco-worriers take an active role in bringing about a more sustainable future for their generation.
These data points are really meant to inspire insight professionals to dig deeper into your treasure trove of data in an effort to help your stakeholders identify existing or new consumer segments that they can win with their new sustainable solutions. Not only will these types of data create a lot of “aha” moments, they will help your company protect or expand its customer base.
Click here for Justin Coates’ series for All Things Insights, “Exploring 10 Myths About Global Consumers & Sustainability.”
