Purpose-driven purchasing a driver in travel retail according to m1nd-set sustainability report
Swiss research agency m1nd-set recently reported millennials’ are leading the purpose-driven purchasing drive in travel retail. The report highlights shopper behaviour in travel retail and downtown locations to highlight key trends of sustainability shopping, including the segments most likely to purchase sustainable brands, price elasticity of sustainable products, the power of social media and peer-influencers on sustainable consumption and the key categories concerned by purpose-driven purchases.
According to the report, 84% of shoppers interviewed from across all world regions shoppers think greater focus on sustainability by manufacturers has a positive impact on their perception of the brand. Millennials were among the segments with above-average scores, with 91% of shoppers from the age-group expressing this opinion. Female travelers and shoppers from Europe and North America also stand out with above-average percentages on the perception of sustainability about brands in the channel. m1nd-set reports that on average 72% of all shoppers in travel retail believe that a greater focus on sustainability by manufacturers increases the likelihood of purchasing a brand. This is particularly the case for millennials and women travelers - 78% in each segment agree, while among regions, Europeans are the most likely to purchase a brand because of its sustainable qualities, with 77% in agreement.
The report reveals that 43% of shoppers in travel retail would actively look for more sustainable and environmental friendly products when shopping at the airport. Significant variations are seen when segmenting the data. 55% of millennials and females are proactive in their quest for greener purchases when shopping at airports, according to m1nd-set. When analysing the green shopping tendencies across regions, the report shows that 52% of both European travelers and North Americans are also above-average green-seekers in travel retail. The categories where more sustainable choices are more likely to be sought are Skincare (65%), Make-up (63%), Confectionery (56%) and Fashion & Accessories (50%). Among those who do not seek out sustainable products at airport shops, lack of time is the main reason, followed by a lack of trust in the sustainable certification, confusion about what is and is not sustainable, lack of interest and insufficient selection.
m1nd-set owner and CEO Dr. Peter Mohn shares, “We see from the research that sustainability is more than a buzz word or hot-topic. It has become a fundamental part the consumer experience for a broad section of shoppers today, in travel retail specifically as well as retail in general. Purpose-driven brands and companies have the power to unite consumers, develop and increase loyalty. Consumers are increasingly conscious of the need to be more responsible socially and environmentally, when shopping, traveling or dining out. It’s also important to note that sustainable brands are more resistant to price hikes as consumers clearly express they are willing to pay more for purpose-driven products and services.”