© 2011 mintel group ltd. all rights reserved. confidential to mintel. consumer attitudes towards...
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© 2011 Mintel Group Ltd. All Rights Reserved. Confidential to Mintel.
Consumer Attitudes Towards Green and Ethical FinanceNovember 2011
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Source: Base:
Ethical, social and environmental that people are concerned about
“Which of the following social, ethical and environmental issues are of particular concern or importance to you? Please select all that apply”, September 2011
GMI/Mintel 2,000 internet users aged 16+
2
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Source: Base:
Participation in green and ethical activities
“Which of the following ‘green’ or ‘ethical’ activities do you participate in?”, September 2011
GMI/Mintel 2,000 internet users aged 16+
3
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Source: Base:
Willingness to pay extra for ethically-sourced products
“I'm willing to pay a little extra for a product from a company that I know behaves ethically”, September 2011
GMI/Mintel 2,000 internet users aged 16+
4
Strongly agree4%
Agree22%
Neither agree nor disagree
46%
Disagree22%
Strongly disagree
6%
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Source: Base:
Attempts to investigate financial services firm’s ethical credentials
“When choosing financial products, eg current or savings account, credit card, investment product or insurance policy, have you ever tried to find out more about the company’s ethical or environmental credentials?”, September 2011
GMI/Mintel 2,000 internet users aged 16+
5
Spoken to company staff
6%Checked
company's website/
marketing 13%
Looked for information
from impartial sources
12%
Other4%
It’s not something that
I’ve really looked into
65%
mintel.com
Source: Base:
Willingness to consider financial services firms’ ethical credentials
“How likely are you to take into account a company’s ethical/environmental credentials when you next arrange a financial product?”, September 2011
GMI/Mintel 2,000 internet users aged 16+
6
Very likely8%
Fairly likely26%
Fairly unlikely24%
Very unlikely17%
Don’t know25%
mintel.com
Source: Base:
Perceived credibility of financial services firm’s ethical claims
“When financial services firms talk about being green or ethical, it’s usually just a PR stunt”, September 2011
GMI/Mintel 2,000 internet users aged 16+
7
Agree60%
Neither agree nor disagree
36%
Disagree4%
mintel.com
Source: Base:
Trusted brands in the financial services industry
“How much do you trust the following banks, building societies and insurance companies to behave ethically?”, September 2011
GMI/Mintel 2,000 internet users aged 16+
8
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Target Groups
Source: Base:
The Idealists: Half would pay extra for a product from an
ethical firm. Three in five disagree that a
firm’s only responsibility is to maximise profits.
But almost all worry that banks’ ethical
claims are “just a PR stunt”.
Among the Uninterested, the
overriding impression given is one of apathy. At
best, a firm’s ethical policies are likely to
be a background concern –a ‘nice-to-
have’, rather than an essential.
Seven in ten of the Cynics think that
firms should stick to making money,
rather than worrying about saving the
world. And almost all say that all they care
about when arranging a financial
product is its performance.
9
GMI/Mintel 2,000 internet users aged 16+
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© 2011 Mintel Group Ltd. All Rights Reserved. Confidential to Mintel.
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Toby Clark
Head of UK Financial Services Research