A recent study by Fairtrade America reveals 76 per cent of consumers would view a brand that they already buy more favourably if it carried a Fairtrade label.
The study of 2000 consumers revealed that visibility of Fairtrade labels is highest on coffee products and that price is becoming a less dominant barrier to purchase.
“Beyond taste, quality and price, food and beverage brands can increasingly differentiate themselves by appealing to consumer’s ethical concerns,” says Bryan Lew, Chief Operating Officer of Fairtrade.
Fairtrade is an independent, third party certification aimed to support farmers and ensure their products are ethically produced.
“Ultimately, Fairtrade certified products help secure decent working conditions, fair prices, and better terms of trade that empower small farmers in developing countries to improve their social, environmental and economic stability,” says Lew.
Globescan’s research also indicates that millennial shoppers are outspending other generations in terms of food and beverage and are more willing to pay more for items that align with their values.