Key takeaways:

• Around 50% of consumers are willing to pay more for ethical brands.
• 75% of millennials will pay more for ethical brands.
• Ethical supply chains matter most: they are important to 78% of consumers.

Objective: In an increasingly socially and environmentally conscious world, consumers want to see brands matching their ethical practices and commitments. We wanted to discover what matters most to consumers in 2024, and find out whether they’re willing to vote with their wallets for ethical brands.

Question one: How important are the following ethical practices when considering a brand?

• Carbon neutrality
• Vegan or cruelty free
• Ethical supply chain (eg fair wages)
• Sponsoring diversity and inclusivity
• Sustainability

Question two: How much more would you be willing to pay for a brand that prioritizes the following ethical practices?

• Nothing more
• 5% more
• 10% more
• 15% more
• 20% more

Audience: A general panel of American consumers aged 18 – 64.

Overall Results

• The majority of consumers are willing to pay more for ethical brands.
• Ethical supply chains are important to 78% of consumers.

How important are the following ethical practices when considering a brand?

How much more would you be willing to pay for a brand that prioritizes the following ethical practices?

Gender Breakdown

• 50% of men vs 19.4% of women consider carbon neutrality highly important.
• 18.4% of men vs 29% of women consider vegan or cruelty free ethics highly important.
• Gender doesn’t strongly influence other ethical concerns, including sponsoring diversity and inclusivity.

Men

How important are the following ethical practices when considering a brand?

How much more would you be willing to pay for a brand that prioritizes the following ethical practices?

Women

How important are the following ethical practices when considering a brand?

How much more would you be willing to pay for a brand that prioritizes the following ethical practices?

Age Breakdown

• Up to 75% of Millennials will pay more for ethical brands. 
• Older consumers are 50% more likely to consider vegan and cruelty-free values important (63.1% of 55 – 64s vs 45.5% of 18 – 24s).

18 – 24

How important are the following ethical practices when considering a brand?

How much more would you be willing to pay for a brand that prioritizes the following ethical practices?

25 – 34

How important are the following ethical practices when considering a brand?

How much more would you be willing to pay for a brand that prioritizes the following ethical practices?

35 – 44

How important are the following ethical practices when considering a brand?

How much more would you be willing to pay for a brand that prioritizes the following ethical practices?

45 – 54

How important are the following ethical practices when considering a brand?

How much more would you be willing to pay for a brand that prioritizes the following ethical practices?

55 – 64

How important are the following ethical practices when considering a brand?

How much more would you be willing to pay for a brand that prioritizes the following ethical practices?

Conclusion

Younger consumers are both more concerned with mission-based branding and more willing to pay for it, but Millennials have deeper pockets than their Gen Z counterparts. While ethical brands are less important to older consumers, animal welfare stands out as a higher concern. 

If you’re interested in digging deeper into our findings, or asking your own questions on consumer and branding topics, contact Atom’s Communications Lead Lotte Reford to learn more.

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About The Author

Thom Davies

Thom Davies is a researcher at AtomRadar and content strategist for Atom.com. His background in quantitative and qualitative analysis is the foundation for data-led brand strategy.

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