Sustainability is becoming more important for all companies, across all industries. In fact, 50% of CPG growth from 2013-2018 can be attributed to sustainably marketed products. As the expectations on corporate responsibility increase, and as transparency becomes more prevalent, companies are recognizing the need to integrate sustainable business practices. With the US sustainability market to reach $150B by 2021, professional communications and good intentions are no longer enough – companies have to start walking the walk.
Beliefs drive buying: Consumers shop “for good.” Nearly 6 in 10 consumers (57 percent) are willing to change their purchasing habits to help reduce negative impact to the environment, and among those who say sustainability is important for them, this jumps to 77 percent. Moreover, of those who say these traits are very important, over seven in 10 are willing to pay a premium for brands that support recycling, practice sustainability, and/or are environmentally responsible.
Going ‘green’ might sound overwhelming but there’s good news: there are endless ways for you to incorporate sustainability into your current business model. For some companies, such as our client noho, it’s utilizing recycled materials to create a beautiful piece of furniture. For others, like Shea Brand, it’s committing to packaging all products in eco-friendly, zero-waste packaging to help reduce plastic waste. mcSquares plants a tree for every pack of stickies sold and PEARL iZUMi is aiming to use 90% sustainable content (like fabrics made from plastic water bottles) by 2022. Ultimately, sustainability comes down to making positive changes that place equal value on the planet, the consumer, and your bottom line.
We're so thankful to have such amazing green clients who not only believe in sustainable business practices but have fully incorporated them. It's time to ask yourself, is my business practicing sustainability? How can my business not only bring value to the consumer but also value and protect our planet’s resources?