More than Half of Consumers Would Pay More for Sustainable Products Designed to Be Reused or Recycled, Accenture Survey Finds
June 4, 2019
Quality and price remain top consumer concerns, creating a challenge for
companies to deliver recycled and recyclable products at minimal
additional cost
COLORADO SPRINGS, Colo.–(BUSINESS WIRE)–More than half of consumers said they would pay more for sustainable
products designed to be reused or recycled, according to results of a
survey from Accenture (NYSE: ACN).
The survey of 6,000 consumers in 11 countries across North America,
Europe and Asia, results of which were previewed at the American
Chemistry Council (ACC) Annual Meeting today, found that while consumers
remain primarily focused on quality and price, 83% believe it’s
important or extremely important for companies to design products that
are meant to be reused or recycled. Nearly three-quarters (72%) of
respondents said they’re currently buying more environmentally friendly
products than they were five years ago, and 81% said they expect to buy
more over the next five years.
“The shift in consumer buying, with more consumers willing to pay extra
for environmentally friendly products, reinforces the need for companies
to increase their commitments to responsible business practices,” said
Jessica Long, a managing director in Accenture Strategy. “Companies
across industries have started to lead with purpose,
including embracing the circular economy as a greater opportunity to
drive growth and competitive
agility.”
Unsurprisingly, quality and price led consumers’ considerations when
making purchases, cited by 89% and 84% of respondents, respectively,
compared with 49% who cited health and safety considerations and 37% who
cited environmental impact.
The survey findings also indicate that consumers believe that the
chemical industry — which plays a key role in driving recycled and
reusable technologies and materials — lacks concern about its
environmental impact. Specifically, one in four consumers (26%) said
they believe that the chemical industry is the least concerned of nine
industries included in the survey about its impact on the environment.
Consumers also ranked chemical companies the lowest among industries for
the reliability of communications regarding the environmental impact of
their products and services, with 72% not very confident or not
confident at all in these communications.
“While some of the survey results are encouraging, there are also
implications for chemical companies, including the need to overcome
negative consumer sentiment and to produce sustainable materials at a
competitive price,” said Rachael Bartels, a senior managing director at
Accenture who leads its chemicals and natural resources practice. “The
chemical industry is a critical enabler to the circular economy and can
speed up its adoption, and the reality is the industry must get in front
of this now, or risk being left behind.”
In other survey findings, plastics was perceived to be the least
environmentally friendly type of packaging, cited by more than
three-fourths (77%) of consumers, with paper products perceived to be
the most environmentally friendly, cited by 55% of respondents.
Resolving these and other challenges could help chemical companies fuel
growth. For instance, the ACC estimates that a circular economy for
plastics could add 38,500 jobs and billions of dollars to the U.S.
economy by expanding the use of pyrolysis and other advanced plastic
recycling technologies. Chemical companies have an opportunity to
catalyze and capture a significant share of the US$4.5 trillion in
opportunity presented by a move to a circular economy, according to circular
economy research from Accenture Strategy.
About the Research
To identify consumer purchasing and consumption habits regarding
different types of packaging and products, as well as consumer views
related to recycling and reuse of materials, Accenture surveyed 6,000
consumers, ages 18 to 70, in 11 countries: the United States, Canada,
France, Germany, Italy, Mexico, the United Kingdom, China, India,
Indonesia and Japan. The survey was conducted in April 2019.
About Accenture
Accenture is a leading global professional services company, providing a
broad range of services and solutions in strategy, consulting, digital,
technology and operations. Combining unmatched experience and
specialized skills across more than 40 industries and all business
functions — underpinned by the world’s largest delivery network —
Accenture works at the intersection of business and technology to help
clients improve their performance and create sustainable value for their
stakeholders. With 477,000 people serving clients in more than 120
countries, Accenture drives innovation to improve the way the world
works and lives. Visit us at www.accenture.com.
Accenture Strategy combines deep industry expertise, advanced analytics
capabilities and human-led design methodologies that enable clients to
act with speed and confidence. By identifying clear, actionable paths to
accelerate competitive agility, Accenture Strategy helps leaders in the
C-suite envision and execute strategies that drive growth in the face of
digital transformation. For more information, follow @AccentureStrat or
visit www.accenture.com/strategy.
Copyright © 2019 Accenture. All rights reserved. Accenture, its logo,
and High Performance Delivered are trademarks of Accenture.
Contacts
Guy Cantwell
Accenture
+1 281 900 9089
guy.cantwell@accenture.com
Maggie
Nolan
Accenture
+1 845 661 0952
margaret.d.nolan@accenture.com
Matt
Corser
Accenture
+44 755 784 9009
matthew.corser@accenture.com