European survey shows that consumers are buying less than before the pandemic

A majority of European consumers are increasingly aware of sustainability aspects when shopping – creating new challenges for businesses. Close to half of Europe’s parents say that their interest in sustainability motivates them to limit their spending, and 42 percent of Gen Z would not feel guilty about paying unethical firms later than agreed.

According to Intrum’s latest survey, the European Consumer Payment Report 2021, consumers across 24 countries are becoming increasingly interested in limiting their spending as they are pivoting towards a more circular lifestyle.

“As climate change rises up the consumer and corporate agenda, our findings highlight the need for companies to better understand how their brand’s impact on the environment is perceived by consumers. Our survey finds that consumers, especially the younger generation, are using their consumption to put pressure on sustainability issues. By focusing on sustainability, businesses can balance their risks and be better equipped to prosper and grow,” Anna Fall, Chief Brand & Communications Officer at Intrum, said.

6 in 10 Europeans are buying less than they used to before the pandemic but expensive products are blocking the way to a more sustainable lifestyle. 58 percent of Europeans, say that they cannot afford to live as sustainably as they would like to.

(WBJ)