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Consumers willing to pay more for ethical products: Nielson

Globally, people are willing to pay more for products and services from companies that are committed to positive social and environmental impact, a recent Nielsen survey has found.

On average, 55 percent of consumers said they were prepared to pay more, a 5 percent rise on a year ago and an increase of 10 percent since 2011.

The Nielsen study found that 64 percent of consumers in Asia Pacific compared to 40 percent in Europe are willing to pay more for products from companies with a positive social and environmental impact.

The survey found that the greatest response to sustainability actions came from millennials; people currently aged 21-34, who represent 51 percent of those who will pay extra for sustainable products.

Only 25 percent of Generation X and 12 percent of Baby Boomers claimed to do the same.

Nielsen research found when it comes to household cleaning products; those with eco labelling saw a 14.2 percent increase in value sales when compared to a year ago. Also, shoppers are paying on average nearly $2 more per litre for eco-friendly dishwashing products.

 

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