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New survey from Propel Software confirms the trend of Americans cutting ties with companies that don't prioritize sustainability

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Data shows that consumers are putting their money behind brands that are committed to protecting the environment

SANTA CLARA, CALIFORNIA, April 9, 2024–(BUSINESS WIRE)–In a new survey, Propel Software, developer of the first Product Value Management (PVM) platform, found that 55% of Americans would “break up” with a brand if they discovered that it is not environmentally friendly.

The survey, commissioned by Propel and conducted by OnePoll, found that 68% of adult men and 55% of adult women say environmentally friendly products or causes are important to them when making purchasing decisions. It also found that 44% feel more emotionally invested in companies that pursue or demonstrate sustainable business practices.

The survey of 2,000 U.S. adults found that Americans will spend 33% more on eco-friendly products in 2024 than in 2023. Consumers plan to spend an average of $12,000 on eco-friendly products this year, up from $9,000 last year for sustainable products products such as electric cars, household cleaners, small and large electronic devices and household appliances.

The survey found that 47% of consumers pay attention to product packaging, 35% search on brands' websites and 21% use advertising.

“Transparency is important to consumers, and brands should take note if they want customers to remain brand loyal. The majority of respondents (65%) say they will pay attention to environmental claims when purchasing,” said Ross Meyercord, CEO of Drive Software. “Today’s consumers are smart and not easily fooled. 42% said they can tell when a company is trying to “greenwash” its actions.

In fact, 45% of U.S. consumers said they would likely buy from an eco-friendly competitor if they found a favorite brand offering “greenwashing” products – making misleading claims about a company's environmental status.

Looking at sustainability from a political perspective, 73% of Democrats and 50% of Republicans say it is important to purchase environmentally friendly products or support environmentally friendly causes.

“Data shows that consumers, regardless of their political affiliation, are putting their hard-earned money into brands and products that support the environment,” Meyercord said. “And those brands that accurately communicate their environmental practices to consumers will be rewarded with loyal customers who spend more with them. Green companies working with eco-friendly consumers ensure a happy, healthy planet.”

Propel's PVM platform helps companies maintain, track and market sustainability efforts by managing the value chain in a common product data set. Through contextual collaboration between R&D, engineering, sales and marketing teams, every product touchpoint is able to capture and share sustainability practices, efforts and aspirations across the company.

To learn more about this data and how Propel helps product companies grow their business by bringing product and sales teams together to work smarter and more efficiently, you can register for Propulsion 2024. Propel's annual event will take place May 13-13 in Chicago this year. 15 and will uncover market trends, forecasts and best practices from industry experts. Click here to register.

Static and animated infographics about the survey are available to view and download here.

About Propel software

Propel helps product companies increase sales and increase business value. Our product value management platform connects sales and product teams to optimize decision making, increase process efficiency, and delight customers with compelling products and experiences. Propel has a proven track record of improving product quality, reducing sales and profits, and improving customer satisfaction. A multiple Deloitte Technology Fast 500 winner, Propel is built on Salesforce and drives product success for high-growth startups, corporate pioneers and Fortune 500 leaders in the high-tech, medical device and consumer products industries. For more information, visit propelsoftware.com and follow us on LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240409618462/en/

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