Second survey of ESG awareness among Japanese consumers聽 conducted
Second survey of ESG awareness among Japanese consumers聽 conducted
Following one in 2020, 蜜豆视频 Evidence Lab conducted another 鈥楯apan ESG Consumer PulseCheck鈥� survey of 1,000 consumers nationwide. Given the high level of market interest in the previous report, survey questions were updated and time series analysis and overseas comparisons were added. Conscious consumption (i.e., taking into account environmental and social impacts) among Japanese consumers is growing steadily, led by Gen Z consumers. For consumption related companies, we think enhanced ESG measures will lead not only to higher valuations from investors and support from consumers long term, but also directly to corporate value.
Notable rise in the price premium for social聽 responsibility
Notable rise in the price premium for social聽 responsibility
The results of this survey both confirm the increasing importance of environmental and social considerations as factors in making consumption decisions and also show a trend from the previous survey of willingness to pay higher prices for products that are eco-friendly and socially responsible. In particular, the average price premium for social responsibility rose from +7.7% in 2020 to +9.0% in 2021, and from +12.5% to +13.9% among young people. Consumers may be requiring more from companies in terms of their social impact with Covid.
Implications:聽 ESG not just addressing risk, also important to corporate value
Implications:聽 ESG not just addressing risk, also important to corporate value
In the latter part of this report, we examine implications for related industries from various angles, including from the perspective of ESG-related efforts by individual companies and assessments of those efforts. In particular, we examine the retail industry, the foods industry, consumer products, small聽 and聽 mid-cap聽 stocks, and the financial industry.
