Green Christmas: 66% Of Kiwis Would Pay More For A Sustainable Gift — Survey

A large majority of Kiwis would pay for their principles with two-thirds willing to spend more on a Christmas gift if it was sustainable, a new survey reveals.

Banked’s Christmas Spending Survey 2023 also found that younger people are much more likely to pay extra for a more eco-friendly gift.

Seventy-two percent of Gen Z and 74% of Millennials would spend more on a gift if it was sustainable, while just over half (52%) of Gen X would do the same. At 38%, the Baby Boomer generation is the least likely to pay more for a greener gift.

More than 1,000 New Zealand adults had their say in the second-annual Christmas spending survey produced by personal finance website Banked.

“As a nation we have become much more aware of the impact our consumption habits have on the environment. Our survey results show that we want the products we buy to be sustainable and we are willing to pay a bit more for those that are — including at Christmas when money can be tight,” says Kevin McHugh, Head of Publishing at Banked.

“Younger people in particular are happy to pay a higher price for a gift if they know it will be better for the environment. In fact, Gen Z and Millennial Kiwis are almost twice as likely to be willing to spend more on a sustainable gift than Baby Boomers.

“As our survey also showed that younger people are more likely to be stressed about the cost of Christmas, their willingness to pay extra shows the importance younger generations place on making more eco-friendly consumer choices,” says McHugh.

Banked’s Christmas Spending Survey 2023 found that 48% of Kiwis are either a little or very stressed about the cost of this year’s Christmas. That number increases to 55% for Gen Z, while Baby Boomers are the least anxious generation with 40% reporting some level of stress.

The survey also found that a third of Kiwis expect to spend more on Christmas 2023. Forty-two percent believe they will spend less, while 25% say they will spend less.

Gen Z and Millennials are the age groups most likely to spend more this year (41% and 40%, respectively). Only 19% of Gen Xers think they will spend more this Christmas and just 7% of Baby Boomers say they will do the same.

Learn more about Banked’s Christmas Spending Survey 2023.

About Banked

Banked is an award-winning financial information website that has the goal of helping New Zealanders make the best decisions on the products they need. Visit the Banked website

.

© Scoop Media