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Irish shoppers seek sustainability, while businesses face the challenge of offering affordable, eco-friendly options, as revealed by the EY Future Consumer Index.
In brief
- Irish consumers are increasingly eco-conscious, prompting businesses to offer affordable, sustainable products.
- High costs and misleading information hinder sustainable buying, signalling a need for transparent, reliable eco-options.
- Consumers recycle and support schemes like Re-turn but seek more government and corporate action for a sustainable future.
As Ireland seeks its place in the global push for sustainability, consumers are thinking more about how they can help the environment. The EY Future Consumer Index, which includes opinions from 500 Irish consumers, shows a country at a turning point, trying to balance caring for the planet with managing everyday costs. Many are worried about the future of the earth and are trying to live more sustainably. Irish companies now have the task of meeting these green expectations by providing eco-friendly products and services that are easy to afford and trust.
Climate change awareness
Climate change looms large in the Irish consciousness, with 38% of consumers expressing extreme concern and a further 55% moderately worried about the planet's future. This anxiety is not without action, with a remarkable 92% of individuals committed to not wasting food and 65% preferring to repair items rather than replace them. Such statistics paint a picture of a community mindful of its consumption and waste.
Feelings about consumption and behaviors
Looking ahead, the Irish consumer's horizon is tinged with green. When considering the most important purchasing criteria for the coming three years, 22% prioritise sustainable packaging, closely aligning with the 24% of global consumers who share this sentiment. Similarly, 20% of Irish shoppers emphasise the environmental friendliness of their purchases, mirroring the global perspective of 24%.
Sustainable purchasing obstacles
However, the journey towards sustainability is not without its obstacles. Despite the good intentions, only 20% of Irish consumers currently deem sustainability as extremely important in their purchasing decisions, a figure that pales in comparison to the global average of 40%. However, more positively, 53% still consider it somewhat important, indicating a potential for growth in eco-conscious consumerism.
The path to sustainable purchases comes with challenges, with Irish consumers citing high prices, questionable quality, and misleading claims as their biggest deterrents to purchasing sustainable products. Seventy-seven percent of consumers are dissuaded by high costs, 68% by low quality, and 65% by dubious product information. Such concerns highlight the need for transparent, affordable, and reliable sustainable options in the marketplace.
Consumer action for a greener future
Irish consumers are not passive in their quest for a greener future. A substantial 65% are gearing up to pay more attention to the environmental impact of their purchases in the next three years. At present, the nation's commitment to the environment is evident in everyday practices. A robust 71% of individuals are recycling and reusing packaging, and an equal percentage are bringing reusable bags to shops. These personal measures are small yet significant steps towards mitigating climate change.
In a significant stride towards marrying environmental responsibility with economic incentive, Ireland has recently introduced the Re-turn deposit return scheme. This initiative, which has generally been met with a strong 'can-do' attitude, is designed to tackle the issue of recycling single-use plastics head-on. By incentivising consumers to return their used containers, Re-turn cleverly aligns with the pragmatic sensibilities of the Irish consumer. As highlighted in the EY Future Consumer Index, 57% of consumers are more inclined to engage in environmental actions when they also offer financial savings. The scheme embodies this principle by offering a tangible reward for recycling efforts, thereby encouraging a broader participation in sustainable practices.
Nevertheless, there is a consensus that more needs to be done. A commanding 80% of the population believes the government must intensify its efforts, and 77% feel organisations should follow suit. Sixty-six percent are recycling or repurposing products after use, demonstrating a readiness to embrace circular economies.
Responsibilities and cost considerations regarding sustainability
The fragility of our planet is a concern deeply etched in the minds of 60% of Irish consumers, and 59% acknowledge the need for more information to make better sustainable choices. This desire for knowledge underscores the importance of education and transparency in fostering an environment where sustainable choices are the norm, not the exception.
Summary
In conclusion, the EY Future Consumer Index unveils an Ireland at a pivotal moment. Irish consumers are poised to become champions of sustainability, provided they are equipped with the right tools and information. It is a collective journey that requires the concerted efforts of individuals, businesses, and governments to ensure that Ireland, and indeed the world, remain vibrant for generations to come.