The Billion-Dollar Impact of Growing Consumer Demand for Sustainability

December 14, 2023 12:30 AM AEDT | By 3BL

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The Billion-Dollar Impact of Growing Consumer Demand for Sustainability — Image source: Kalkine Media

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This year financial services companies lost $17 billion as consumers switched to industry competitors that were considered more sustainable.

While keeping an eye on costs and returns, a rising group of consumers have a new reason to trade brand allegiances: sustainability. Turns out, over half of U.S. consumers deem it ‘important’ or ‘very important’ for financial service providers to exhibit a responsible ethos toward society and the environment.

This is according to the upcoming Size of Prize Report, from research technology company Glow, in collaboration with 3BL, Triple Pundit, and panel partner Cint. More than 3,000 U.S. consumers were surveyed on how sustainability impacted their purchase decisions across 12 different industries.

With a billion-dollar in losses hitting the financial services sector, what does this mean for other industries?

Find out by clicking here to be updated when the report has launched.

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