No environmental plan? Expect young Aussies to boycott your brand
Since the Covid-19 pandemic forced many Australians to slow down during lockdown, a change in attitude has become apparent.
Over half of Aussies (57 per cent) are more mindful of their impact on the environment than ever before, and a number plan to pass this attitude through to their shopping, according to new research from Mastercard.
Three in five Australians believe its more important than ever that businesses and brands do their part to help the environment, with 26 per cent of Generation Z already planning to stop buying from companies without an environmental plan in place.
Two in five over 55’s, however, are planning to buy more locally produced brands, rather than international ones, following the impact of the pandemic.
“Consumer behaviour among the different generations is clearly changing as people’s priorities shift,” said Mastercard’s Australasia division president Richard Wormald.
“Many of the longer-term changes that are occurring as a result of Covid-19 are still being formed, giving organisations an opportunity to help shape the ‘next normal’.”
According to Wormald, Mastercard’s research shows that Australians are coming to expect sustainable and environmental leadership from the brands they support, and that should businesses wish to continue interacting with these customers they need need to show leadership on matters of sustainability.
This article was first published on Inside Retail, a sibling website to Inside Franchise Business Executive.