Millennials Deal with the Cost of the "Green Premium"
The latest data about the “green premium,” the higher price that consumers say they are willing to pay for eco-friendly goods, confirms that Millennials will pay more as will other demographics, but that they are also very frugal in their spending. Among this young cohort, now moving into the workforce, 48% said they would pay more for foods and beverages that provide additional nutritional benefits, according to a survey by retail analytics company IRI, as reported in Food Navigator. At the same time, 86% buy lower-priced brands, and 61% use coupons. The demographic is constrained in its spending by the high volume of student loans and an unstable work environment. Companies that solve this conundrum will be those that will earn profits while promoting values.
John Howell, Editorial Director
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