Around 77% of shoppers in Europe have revealed they are interested in buying sustainable luxury products, with 51% of them even willing to pay up to 10% extra for items sustainability made or shipped, new research has revealed.
According to the 2023 Europe Luxury Report, the Covid-19 pandemic gave shoppers time to consider their environmental impact, which resulted in a burgeoning interest in sustainability shoppers in Europe across 2020 and 2021.
Some customers (8%) added that they would even be willing to pay up to 25% extra.
The research added that European customers have also been slowly turning to ethical and sustainable purchases across retail.
For the luxury sector in particular, this has generated something of an upswing in sales, especially among younger shoppers, with those under 40, for example, turning away from ast fashion and targeting one-off luxury purchases as an investment in a piece of clothing that has longevity.
Europe’s luxury shoppers are, on the whole, drawn to purchasing locally made luxury products – the preference for 61% of those surveyed.
The report stated: “This is relatively easy in the European luxury sector, with 17 of the top 20 luxury brands globally being based in Europe. This helps assure shoppers for whom more ethical production practices are important.”
Download the 2023 Europe Luxury Report, which explores how consumers are increasingly shopping for everything they want on marketplace sites – from Amazon through to specialised luxury marketplaces such as FarFetch and forcing luxury brands to not only embrace ecommerce, but also to look at how to take the leap into not necessarily owning the customer themselves.
