Additional Information


Consumer boycotts costing big brands £2.6bn annually

LONDON - Boycotts by ethical shoppers are costing big brands £2.6bn each year according to a report by the Co-operative Bank.

Share this article

The Bank's Ethical Purchasing Index, which attempts to measure growth in the ethical products and services sector based on sales data, claims that a total of £5.6bn of consumer spending was governed by issues such as shopping locally, boycotting major brands, recycling and the use of public transport.

Sales of ethical goods and services increased to £6.9bn with a further £7.4bn held in ethical financial services in 2001, placing the total value of the ethical market in the UK at £19.9bn.

The report suggests that 52% of consumers claim to have avoided at least one product on ethical grounds. Most notably sales of energy efficient products now account for 41% of all household appliances sold while 40% of eggs sold are free range.

Ethical spending in the banking sector saw the biggest year-on-year increase, rising 16% to £3.9bn, although money invested in ethical funds dropped 8% to £3.5bn.

However, despite the increase in sales, the survey suggests that the overall market share of ethical goods and services remains less than 2%. It noted that while 80% of consumers opposed the testing of cosmetics on animals, the volume of sales complying with the Humane Cosmetics Standard remain below 2%.

If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the Forum here.

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Additional Information

Latest jobs Jobs web feed


The Wall blogs

Back to top ^