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United States
Puerto Rico

Europe

Denmark
Germany
Ireland
Norway
Poland
Sweden
United Kingdom
Spain

 LONDON, 12 August– Research by global payments provider, Elavon, reveals that when it comes to spending, adults in the UK genuinely care how a business operates, not just about what it’s selling. An overwhelming majority of British consumers (90%) are conscious of social responsibility and environmental issues and plan to increase buying from brands with ethical credentials.

The consumer survey1 of more than 1,100 respondents in England, Scotland, Wales and Northern Ireland, conducted by Ipsos MORI, also noted that support for ethical businesses was strong across all age groups, from Gen Ys and Millennials to those aged 55-75.

Top concerns from UK adults looking to purchase from businesses included:

  • Safe working conditions (94%)
  • The reputation of the business (93%)
  • Supporting local businesses (90%)
  • Fair supply chain and no use of child labour (90%)
  • Environmental sustainability (89%)
  • Equal pay (89%)

Along with the pandemic, initiatives such as the upcoming COP26 conference in Glasgow on climate change and global movements for diversity, equality and inclusion have changed the way consumers think about supporting businesses.

Business perspective

Additional research2 from a business owners’ perspective was conducted on UK small-to-medium-sized enterprises (SMEs) by Elavon subsidiary, Opayo, and its partner, Discover Global Network. This survey found that 82% of businesses agreed that ethical and green credentials will become even more important to their customers in the future.

Businesses are also focused on their roles within the local economy. Four out of five (80%) SMEs report that being recognised as a local business had become more important over the past year. In addition, almost three quarters (74%) of companies surveyed indicated that their local communities had stepped up to support them.  

Digital acceleration

As well as changing how consumers consider supporting businesses, the pandemic also prompted the growth of contactless and digital payments, which are now clearly here to stay. The most significant rise in adoption was seen within the 55-75 age group, with 54% increasing their use of contactless payments3. Of those respondents who increased their use of contactless payments, 91% plan to continue using them in the future.

Elavon also noted that digital wallets, while still relatively small in take-up, are a trend to watch. 16% of respondents increased their use of digital wallets via a smartphone or watch during the pandemic. Seen as a convenient, safe and contact-free method of payment, some 79% who use digital wallets will continue to do so in the future, a significant shift across all demographics in embracing digital technology.

Commenting on the findings, Simon Tune, Commercial Director at Elavon, Europe said: 

“Our research shows that today’s consumers are increasingly mindful of who and where they decide to buy from, and the environmental and social impacts this might have on our planet and broader society. Businesses should be aware of changing attitudes to become more consumer-focused, which includes offering a wide range of payment options to make the experience as convenient as possible.”

[1] Research commissioned by Elavon and Ipsos MORI on 1,129 UK adults aged 16-75 between May 28-June 1, 2021.
[2] Research commissioned by Opayo and Discover ® Global Network and conducted by Savanta on 160 small businesses in the UK between April 15-30, 2021.
[3] Research by Elavon and Ipsos MORI, conducted between May 28-June 1, 2021.

 

About  Elavon

Elavon is a leading global payments company with more than 4,300 employees and operations in 10 countries. A subsidiary of U.S. Bancorp (NYSE:USB), Elavon provides businesses with the technology needed to accept payments from customers, whether they are shopping in stores, at home or on the go.

Its platform is distinctive in that it is common across countries, making it easier for businesses to get their payment system up and running quickly and securely.

Elavon Financial Services DAC, trading as Elavon Merchant Services, is deemed authorised and regulated by the Financial Conduct Authority. Details of the Temporary Permissions Regime, which allows EEA-based firms to operate in the UK for a limited period while seeking full authorisation, are available on the Financial Conduct Authority’s website.

 

Media Contact


Andy Walsh
andrew.walsh@elavon.com

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