Korean Consumers Open to Buying Eco-friendly Products Even if They are More Expensive | Be Korea-savvy

Korean Consumers Open to Buying Eco-friendly Products Even if They are More Expensive


This screenshot of a post on Instagram shows examples of environmentally friendly packaging of gifts. (Yonhap)

This screenshot of a post on Instagram shows examples of environmentally friendly packaging of gifts. (Yonhap)

SEOUL, Sept. 6 (Korea Bizwire)Three out of ten South Korean consumers take a company’s record on the environment into consideration when making purchasing decisions.

KB Financial Group Inc., a major South Korean banking group, conducted a survey of 1,000 credit card users, 31.6 percent of whom said that their purchasing decisions were influenced by companies’ commitment to the environment.

More than nine out of 10 consumers replied that they were willing to purchase eco-friendly products in the future.

Given that the price of eco-friendly products is typically higher than that of ordinary products, 54.3 percent of consumers said that they would buy eco-friendly products if the price gap was less than 10 percent.

Most of the respondents (96.7 percent) replied that their use of delivery services increased over the past year, while 70.9 percent said that such services have an impact on the environment.

However, the share of those who took the availability of eco-friendly deliveries into consideration when actually selecting distribution and delivery companies remained low at 25.9 percent.

Ashley Song (ashley@koreabizwire.com)

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