Was 2018 the year of the influential sustainable consumer?
- Media Manager
- Dec 17, 2020
- 1 min read
NIQ - Nielsen Consumer
Published: December 17th, 2018
Photo Credit: Unsplash/CC0 Public Domain
Many U.S. consumers have touted their desire for more sustainable products for years, and the sales data shows that they’re using their spending power to effect the change they want to see in the world. Our projected sales echo the steady climb that the sustainability market has experienced in recent years, so corporations would do well to understand what attributes matter to consumers and meet the sustainable traits they’re seeking.
Nearly half (48%) of U.S. consumers say they would definitely or probably change their consumption habits to reduce their impact on the environment. And these consumers are putting their dollars where their values are, spending $128.5 billion on sustainable fast-moving consumer goods (FMCG) products this year*. Since 2014, these influential shoppers have grown sustainable product sales by nearly 20%, with a compound average growth rate (CAGR) that’s four times larger than conventional products (3.5% vs -1.0%** comparatively). By 2021, we expect these sustainably minded shoppers to spend up to $150 billion on sustainable FMCG goods an increase of $14 billion – $22 billion.
Today, sales of products with sustainable attributes make up 22% of the total store, with organic, sustainable and clean attributes driving the majority of the sustainable category’s growth. Notably, sustainability’s share between 2014 and 2017 grew nearly three percentage points, while conventional products’ share of sales dropped by almost four. By 2021, we expect sustainable goods will make up 25% of store sales.
