New Consumer Groups Will Stimulate Sustainable Development of Food Retail Industry

According to a new Research from IRI and NYU's Stern Center for Sustainable Business (CSB), 77% of consumers believe sustainability is important when choosing products to buy, 8% higher than the 2021 survey results. As consumer expectations for sustainability continue to evolve, CPG manufacturers and retailers alike need to understand, and meet, these needs.

One area that is seeing huge growth is packaging. Nielsen's "Sustainability: The New Consumer Spending Outlook" report found that by September 2022, "sustainable packaging" claims were up 18% compared to three years ago.

Consumer demand is directly impacting this increase, as Nielsen found that 53% of consumers want companies to reduce the amount of plastic in their packaging and 46% want them to use sustainable packaging materials.

These eco-friendly products are not a fad that retailers can ignore. research from IRI and CSB shows that 27% of shoppers, and 32% of Gen Z and Millennials, specifically seek out retailers that offer sustainable products, suggesting that shopper preferences may continue and grow over time.