74% of young people prefer to shop with brands that align to their values

Nearly three-quarters (74%) of people aged 18-24 would be willing to spend more on a brand that aligns with their values, in spite of the cost of living crisis, new data suggests.

The survey by CACI, a consumer and location intelligence specialist, also found that more than half of 25-34 year olds (57%) would choose to do the same.

The research follows on from an ESG focused survey conducted by CACI earlier this year, which drew similar conclusions about the willingness of younger people to spend more to achieve a higher sustainability standard.

Hannah Smith, Senior Consultant at CACI, said: “The cost of living crisis is a cause for concern and undoubtedly impacting spend, with over 50% of the population concerned about their finances, but our study does demonstrate that there is opportunity for brands.

This research follows on from an ESG focused survey conducted by CACI earlier this year, which drew similar conclusions about the willingness of younger people to spend more to achieve a higher sustainability standard.

”We are very much in the age of conscious consumerism. Younger generations have become more considered with how they spend their money, scrutinising company values with a particular focus on ESG. While they might not yet be as cash rich as older generations, and are more likely to be affected by the cost of living crisis, they are more willing to push their spending to the limit to be more sustainable.

"Businesses that are able to adapt, or target younger people with effective marketing to highlight existing credentials, will be in a great position to attract customers now, and win their future loyalty.”