Millennials opt for ethical, eco-friendly brands

The days when shoppers pay attention solely on brand names may be numbered, a recent study by The Shelton Group, a marketing company specializing in sustainability, revealed. Through its Eco Pulse data trending, the firm polls 2,000 US respondents online, and has been seeing a noticeable increase in ecological and social awareness among consumers in the past three years.

In its latest survey, more than half of respondents believe a product is green only if the company behind it is promoting sustainable practices. Forty-five percent also said they "want to be seen as someone who buys eco-friendly products" while a third has made an actual purchase of a green product. Nearly two-thirds or 64 percent of those polled can also name drop a sustainable label.

The trend is even stronger with millennials, with 90 percent saying they will buy from a brand whose social and environmental practices they trust. Among them, 95 percent are intent on recommending their purchase to friends, mostly via social media. These are vital numbers for businesses considering that in the US alone, this age bracket spends about $600 billion every year. By 2020, the figure is expected to reach $1.4 trillion annually, accounting for 30 percent of the country's retail sales.

At present, several leading brands are taking the eco-friendly and socially responsible route. Sweden-based fast fashion giant H&M has found a way to recycle fabric blends into fibers durable enough for new textile production. Gap remains steadfast in its promise to reduce greenhouse emissions in coming years. These two companies, along with UK-based retailer Marks & Spencer, and sportswear behemoths Nike and adidas, lead apparel companies in CHRB's human rights rankings last year.