Canadians Will Pay Premium For Sustainable Goods

During a time when consumers are choosing to re-evaluate purchases and live with less, the overwhelming majority of Canadians (80 per cent) are considering sustainability when making purchasing decisions this holiday season and beyond, says the ‘EY Future Consumer Index Survey.’ “The pandemic has helped Canadians realize that they can live with less and consume responsibly, driving them to take actions to be more sustainable in their everyday lives,” says Lokesh Chaudhry, EY Canada consumer co-leader. “Whether decreasing spending on unnecessary goods, repairing items instead of replacing them, or pivoting to private labels and buying from environmentally-friendly companies, it's clear that consumers are eager to do their part to improve their social impact and lessen their environmental one.” Increasing pressure from all stakeholders to become more sustainable is pushing companies to pivot as Canadians pay more attention to retailers' behaviours and operations, says the survey. When choosing which business to shop at, consumers are looking for companies that are transparent about their environmental impact (71 per cent), while behaving ethically (70 per cent) and manufacturing sustainably (69 per cent). Retailers must be bold in the way they communicate sustainable value ‒ like the long-term savings or benefits of reusable and higher quality products ‒ to get out in front of competitors. However, this branding must be met with a seamless omnichannel experience.