March 8th, 2024, Lesley Simeon
Sustainable sports gear is big business – just ask billion-dollar brands like Patagonia. According to a new YouGov survey, 39% of consumers across various markets indicate they would pay a markup on sustainably produced sports gear.
But how much more would they be willing to pay for sustainable versions of products or services compared to regular ones? Among those who say they would pay more for sustainable products, nearly half (48%) say they would pay up to 10% more on eco-friendly equipment, while almost a quarter (22%) say they would pay up to 25% more.
Women are more likely than men (51% vs. 46%) to be prepared to fork out this extra 10%, our data shows. Yet when it comes to paying up to 25% more, men beat women by a small margin (23% vs. 21%). It’s a similar story when it comes to paying up to 50% more (16% of men and 14% of women). We should also acknowledge the obvious here - that what people say they are prepared to pay and what they end up paying can be quite different things.
As for consumers from individual markets, Italians account for the largest proportion of consumers (61%) who would pay up to 10% more for sustainable fitness and sports equipment, than regular ones. Britons (59%) and Danes (59%) follow. In Asia, Singaporeans (53%) are the most likely to be okay paying up to 10% more on sustainable equipment.
Among those who would set the limit at 25% on paying extra for sustainable fitness and sports equipment, Hong Kongers lead (32%), followed by Indians (29%).
Consumers in UAE account for the largest proportion of consumers who would pay up to 50% more for sustainable fitness and sports equipment. More than a fifth of consumers in this market (22%) say so.
Further, 13% of consumers here would also pay up to 75% more on sustainable versions of these products, marking out the UAE as the market where consumers are most prepared to pay this premium. It is followed by shoppers in France (11%), Sweden (10%) and India (10%).
Nearly one in ten Swedes (9%) wouldn’t mind paying up to 100% more on sustainable offerings in the fitness and sports equipment category. More than one in 20 Germans (7%) are willing to go beyond the 100% extra-mark as well.
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Methodology: YouGov Surveys: Serviced provide quick survey results from nationally representative or targeted audiences in multiple markets. The data is based on surveys of adults aged 18+ years in 17 markets with sample sizes varying between 243 and 724 for each market. All surveys were conducted online in December 2023. Data from each market uses a nationally representative sample apart from Mexico and India, which use urban representative samples, and Indonesia and Hong Kong, which use online representative samples. Learn more about YouGov Surveys: Serviced.
Tags:
Custom Research, Surveys Serviced
Categories:
Sports, Retail