U.S. consumer willingness to pay for socially compliant products by generation 2018

According to a survey carried out in September 2018 in the United States, Millennials and Generation Z consumers are the most likely generations to be willing to pay extra for sustainable products. During the survey, one quarter of Millennial survey respondents stated that they would pay an extra 11 to 20 percent for a product that has been certified as socially compliant.

What are socially compliant products?

Otherwise known as socially compliant, sustainable products are those which deliver environmental, social and economic benefits over their life cycle, from their production until disposal. According to a survey carried out in the United States, some 83 percent of respondents were familiar with the term “sustainability”.

The sustainable products market in the U.S.

The sales value of sustainable products in the United States has increased in recent years – in 2018 sales totaled approximately 128.5 billion U.S. dollars, an increase in over twenty billion dollars since 2014. Some of the top American sustainable companies in 2019 included Best Buy, Cisco Systems, Agilent Technologies and HP Inc.