SINGAPORE: Many shoppers in Singapore are willing to pay a premium for products with strong green credentials, research has revealed.
Reader's Digest, the magazine, surveyed 1,000 people in the country, with a particular emphasis on higher-income shoppers, in an effort to establish their brand preferences.
It found that three-quarters of participants would consider spending more on goods which focused on issues such as sustainability.
However, the maximum allowable difference between regular items and their eco-friendly alternatives averaged out at just 8% among respondents to the poll.
"In the last decade, we have become more conscious of environmental friendliness, and you see this taking shape in our shopping choices," Gwen Loong, group advertising director for Reader's Digest Asia, said.
Elsewhere, the report indicated that younger consumers and women were more likely than other demographics to trust a brand if it had been recommended to them by a friend.
Many contributors also researched their options before making an acquisition, with the findings from this process being the most significant influence on the purchase process for a third of the panel.
By contrast, the endorsement of a brand by a celebrity was seen as the single weakest influencing factor in shaping popular habits, the survey found.
Data sourced from China Daily; additional content by Warc staff