Over two-thirds of consumers say that living a more sustainable lifestyle is important to them. Eco-friendly and Fair Trade claims are attractive to consumers, but the marketplace is still trying to clarify what lies behind these claims and if shoppers really follow through with their interests in the form of purchases. Consumer sentiment research looked at retail sales from 2017-2020 and showed that consumer spending on products with environmental, social and governance (ESG) claims grew at a faster rate than products without such claims (Am et al., 2023).
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