Increased green interest among Generation Z, yet inflation impacts purchasing decisions for environmentally friendly products
In the year 2023, Generation Z in Italy has shown a notable increase in sustainable behaviour, particularly in the areas of real estate and energy efficiency. This trend is driven by heightened environmental awareness and a demand for eco-friendly living solutions.
The "Agos Insights 2023. The New Sustainable Consumption" Observatory, conducted by Agos, Crédit Agricole Group, Banco Bpm, and Eumetra, revealed that 35% of the surveyed individuals use walking as their means of transport, and 19% opt for cycling. These figures place walking and cycling as the second and third most used means of transport, following the private car, which remains the most popular with 63% usage.
The survey also found that 86% of respondents expressed interest in the energy efficiency of their home. This interest is driven by both economic advantages (61%) and environmental concerns (39%). However, in an inflationary economic scenario, consumers often choose more affordable products, regardless of their green characteristics.
Despite this, the survey found a 9% increase in the use of energy from renewable sources compared to 2022. This suggests that while purchase choices in the direction of sustainability may be more contained in 2023 compared to the previous year, there is still a growing interest in green energy.
Sociologist Francesco Morace commented that the younger generation is looking for real sustainability and less storytelling. He noted that while Gen Z is concerned about climate change and sustainability, they sometimes feel skeptical about the impact of individual actions or government efforts. However, immediate concerns like housing affordability do not diminish their commitment to sustainable choices in housing and energy, representing a pragmatic balance between ecological responsibility and economic considerations.
The survey also highlighted that Italian and broader EU regulations on building energy performance and sustainable development reinforce consumer expectations, pushing the real estate sector toward greener standards. Gen Z’s demand for transparency and reliable sustainability claims influences real estate developers and energy providers to adapt accordingly.
In summary, Generation Z in Italy in 2023 demonstrated a clear increase in sustainable behavior focused on real estate and energy efficiency, driven by enhanced environmental consciousness, supported by EU regulations, and tempered by economic realities and pragmatic considerations. The survey aims to illustrate the green habits of Italians, providing valuable insights into the evolving sustainability landscape in the country.
- In the realm of personal-finance, many Gen Z individuals in Italy are seen saving in favor of energy-efficient homes, driven by both economic advantages and environmental concerns.
- The environmental-science sector has observed a surge in demands for eco-friendly living solutions, particularly within the home-and-garden industry, as a result of Gen Z's increased awareness and commitment to sustainable living.
- Amidst an inflationary economic scenario, the lifestyle preferences of Gen Z seem geared towards affordable products, but they still show a growing fascination with green energy, as shown by a 9% increase in the use of energy from renewable sources.
- The Agos Insights report underscores the significance of sustainable choices in housing and energy for Gen Z, revealing a balance between their ecological responsibility and economic considerations, such as housing affordability.
- The survey indicates that regulations on building energy performance and sustainable development, both in Italy and the EU, have stimulated the real estate sector to adopt greener standards, meeting the demands of environmentally-conscious consumers like Gen Z.
- As a response to Gen Z's demand for transparency and reliable sustainability claims, real estate developers and energy providers are adapting their practices to meet these expectations, contributing to the overall shift towards sustainable living in Italy.
