Idea in Brief
The Challenge
Most consumers report positive attitudes toward eco-friendly products and services, but they often seem unwilling to pay for them. Insights from behavioral science can help close this gap.
The Solution
Consider five approaches: use social influence, shape good habits, leverage the domino effect, decide whether to talk to the heart or the brain, and favor experiences over ownership.
The Result
People’s desire to conform to the behavior of others—and the habits they develop over time—influence the likelihood that they will consume sustainable offerings. The good news is that sustainable choices often lead to further positive behavior.
On the surface, there has seemingly never been a better time to launch a sustainable offering. Consumers—particularly Millennials—increasingly say they want brands that embrace purpose and sustainability. Indeed, one recent report revealed that certain categories of products with sustainability claims showed twice the growth of their traditional counterparts. Yet a frustrating paradox remains at the heart of green business: Few consumers who report positive attitudes toward eco-friendly products and services follow through with their wallets. In one recent survey 65% said they want to buy purpose-driven brands that advocate sustainability, yet only about 26% actually do so.