Research has shown that 62% of Generation Z actually prefers to purchase from ethical and sustainable brands over 'fast fashion' ones; additionally, they're willing to pay more for these goods.
According to a survey, Gen Z cares more about sustainable buying than any other generation. Gen Z shows the most concern for the planet's well-being and has been influencing others to make sustainability-first buying decisions. And luckily for Gen Z, they have the most powerful tool for influencing the public: Social media.
Because of this, more and more brands and even entire industries have been reassessing their ESG initiatives because of Generation Z's use of social media and their desire to create a better future.
The rise of resale sites like Vestiaire Collective, StockX, and The RealReal is due to this generation's demand.
Now, it is these resale platforms that enable companies to integrate luxury and sustainability — which is ultimately a win-win situation for both consumers and companies.
"We all know that Generation Z is leading many of the world's biggest changes – from politics and social justice to sustainability and climate change," said Robert Lockyer, Chief Client Officer and founder of sustainable packaging solutions provider Delta Global.
Now that generation Z is set to become the largest consumer group this year, retailers and brands have to accelerate their sustainability efforts to meet the demands of this new generation and do more than merely check off a few sustainability boxes.