Business Intelligence

CO-OP

Green pound hits record levels

The company has produced a leaflet which will accompany all its products heading to the UK.

The UK ‘green pound’ has reached record levels, breaking through the £100bn for the first time, according to the Co-op’s Ethical Consumerism Report. The research shows ethical consumer spending and finance in the UK amounting to £122bn, but brand boycotts on ethical grounds have risen sharply to almost £4bn, up 18% in the year.

In particular, ethical shoppers have got their teeth into vegetarian and plantbased food and drinks which have experienced a 34% sales increase to almost £1.5bn.

Sales data from Co-op indicates that plant-based burgers outperformed meat-based counterparts by 24% in 2021. Data also revealed an increase in the sales of plant-based ready meals, outperforming meat-based ready meals by 15% over the past 12 months.

Steve Murrells, Co-op Group Chief Executive, said: “Our Ethical Consumerism Report is a barometer on consumer behaviour and shoppers are turning up the heat to boycott businesses which fail to act on ethical or social concerns. The report is a warning to brands that they must do business a better way for workers, communities and the planet but it offers clear evidence to policy makers that they can positively influence change.”

The report shows that independent certification continued to be important in helping consumers make better choices. The Fairtrade, RSPCA Freedom Assured and Rainforest Alliance brands all rose in value while spend on MSC-certified sustainable fish fell from £899m to £818m.

The research also finds that freerange egg sales topped more than £1bn for the first-time.

Sales of energy efficient lightbulbs fell in 2020 after lockdown restrictions hit supply chains. However, UK sales of LED lightbulbs are expected to increase significantly following the September 2021 ban on retailing halogen lightbulbs.