New report: Growing consumer demand for sustainability

Although many companies began shifting toward sustainable business practices because of corporate mandates or government regulations, an increasing number are recognizing an even better reason to “go green.” It simply makes good business sense.

According to the 2024 “Sustainability, EV, and Convenience Retail Survey Report” from PDI Technologies, more and more consumers are seeking eco-conscious products and services. During the four years PDI has conducted this annual survey to measure sentiment among American consumers, interest in sustainability has steadily risen from 64% in 2021 to a whopping 80% in 2024.

What’s driving this change?

Increased awareness of climate change and the growing buying power of Millennials and Generation Z have rapidly altered the economic dynamics for fuel and convenience retailers. Combined with ongoing technology innovation, these evolving consumer preferences are creating a more competitive marketplace.

If you’re not keeping up with the latest industry data and trends on sustainability, you risk falling behind your competitors. The big question is: How do you reach consumers who increasingly demand sustainability

Consumer expectations at the pump and in the store

Whether they’re fueling up in the forecourt or browsing the aisles of their local convenience store, consumers are choosing eco-friendly offerings. In fact, the new report reveals that 65% of consumers would pay more for gas if their carbon emissions are offset.

Inside the c-store, consumers expect both big brands and convenience retailers to follow sustainable practices and offer more options for greener goods and services. For fast-moving consumer goods (FMCG) brands, that also signals a need to prioritize sustainability. Many are doing so with sustainability-focused offers, responsible packaging, and offsets or discounts tied to product purchases.

“The survey results shouldn’t surprise anyone who has been paying attention to recent convenience industry trends,” explains Joshua Lord, Director of Sustainability Operations at PDI. “We consistently see businesses asking for new insights and guidance on how to reach these more eco-focused consumers.”

Three key takeaways from the report

Even though the report reflects sentiment from US-based consumers, PDI has found that consumer demand for sustainable products from sustainability-minded businesses is typically even higher in Europe and other regions of the world.

The report highlights three key findings with global implications:

Interest in sustainable products remains top of mind for a majority of consumers.
Consumers will pay more for gas if stations offer carbon offsetting.
Consumers increasingly expect sustainable options both in the c-store and at the pump, including meeting the growing needs of Electric Vehicle (EV) drivers.

If you’re not already serving these consumers, the first step is to define a holistic sustainability strategy for your business. You don’t need to change everything all at once, but you do need a flexible plan that can evolve over time.

Keep in mind that sustainability isn’t a one-size-fits-all business practice. You can embrace it on your own terms and timeframe—depending on what your customers want from you. Going greener should not require you to:

Disrupt practices that are working well for you and your customers
Make a significant financial investment without understanding the ROI

Whether you’re thinking about installing EV chargers, implementing carbon offset programs, or funding environmentally focused community projects, there are nearly unlimited ways to differentiate your brand and connect with consumers.

The key is to implement your plan, quickly measure results, and make the necessary adjustments to continue achieving your sustainability objectives. In that way, you can begin turning eco-conscious shoppers into brand-loyal customers.

You can explore PDI Sustainability Consulting and Solutions at pditechnologies.com/sustainability.

Meet with PDI at UNITI expo 2024

Get the right combination of innovative technology and industry experience. Meet the PDI experts in Stand #5B21 at UNITI expo 2024, and be sure to attend the presentation from David Anderson and Josh Lord on how to work smarter and engage faster with consumers.