First survey of ESG awareness among Japanese consumers conducted

UBS  Evidence  Lab  has  done  its  first  Japan  ESG  Consumer  PulseCheck  survey  of  1,000  individuals.   Results   show   higher-than-expected   awareness   of   conscious  or  ethical  consumption  that  considers  environmental  or  social  factors.  Awareness is high especially among  Generation  Z  consumers  that  will  underpin  future  consumption—digital  natives  strongly  connected  through  social  media.  For  consumer-related  companies,  enhanced  environment,  social,  and  governance  (ESG)  policies  are  not only likely to improve investor sentiment. They may also improve long-term support from consumers. We expect the importance of ESG issues to grow.

Majority 'willing to pay more for eco-friendly/socially responsible products'

There were only a few selective surveys in this area in Japan and the UBS Evidence Lab Japan  ESG  Consumer  PulseCheck  survey  confirmed  not  only  higher  awareness  of  ESG  and SDGs following COVID but willingness to pay more for eco-friendly/socially  responsible  products,  especially  among  Generation  Z , which  is  likely  to  attract  attention.  Price  premium  was  8%  on  average  and  over  12%  among Generation Z. It is surprising the added value of eco-friendliness / social responsibility is  so  high  in  Japan,  where  price  consciousness  is  always  high.  If  consumer  businesses  enhance ESG, they may gain room to raise prices

Explore other articles you may find interesting