The paper deals with consumer preferences of young people (members of Y generation) in relation to general principles of sustainability in environmental and social aspects of consumer goods purchase. The aim of the article is to evaluate the relationship between the general attitudes to the above-mentioned issues and the awareness of the “fair trade” business concept in the context of sustainable development of the young generation aged 15–34 in the Czech Republic. The presented results were obtained through primary research involving 840 respondents from the Czech Republic. Within the research, the quota selection features were taken into account, which were gender, age, educational attainment and respondent’s residence area. The results show that young people are interested in the origin of consumer goods they buy. They are willing to invest more in the purchase of goods if their price reflects the quality, the environmentally friendly way and the working conditions of the producers. From the point of view of the specific knowledge of the concept of Fair Trade, it was found that almost half knows it. It has been proven that young people who are interested in the origin of goods also know Fair Trade.