Are Chinese millennials willing to pay more for sustainable goods?
Reports suggest nation’s younger shoppers make ethical choices, buying goods not for their status, but because of their quality and style
This article was originally written by Ruonan Zheng for Jing Daily
A vast number of reports state that Chinese millennials are ethical shoppers – that they would be OK with paying a bit more for a sustainable product.
So how true is this in today’s China, where the notion of sustainability is in its infancy?
We pose that question to three different people.
Shaway Yeh, group style editorial director, Modern Media, and founder of agency, yehyehyeh
“I believe Chinese millennials will pay more for sustainable goods.
“Unlike their predecessors, who purchase goods out of necessity or status, millennials buy goods with reference to their quality, style and meanings.
“‘Sustainable’ goods tend to have better quality, especially in terms of ‘safety’ and ‘toxic-free’; sustainable goods also reflect positive values: caring for the community, the planets, the animals, etc.
“If the stories are communicated well and the values are recognised, it can create the ‘halo’ effect that appeals to consumers.
“However, a consumer won’t simply pay more because something is ‘sustainable’; you need to break down its various merits and attributes to attract specific consumers more accurately.”
Janice Wang, CEO of Alvanon, a global fashion technology company