With the increase of consumers demanding brands to be more environmentally conscious, is going green still just an added value proposition – or is it a must? Let’s look at the current market behaviour.
Unilever’s study, involving five countries, shows that a third of consumers buy brands based on their social and environmental impact. The international brand also shared how their company grew significantly due to their sustainability-integrated products Dove, Hellmann’s and Ben & Jerry’s. With consumers’ shift in preferences, it is projected that there is an opportunity of €966 billion for sustainable goods.
The Push for Authentically Green Companies
In a study conducted by media agency MediaCom, results reveal that UK consumers have an increasing interest in companies’ ethical practices, with nearly half of consumers abandoning brands with poor corporate behaviour. The study also reveals that consumers are “willing to pay more” for brands that support a cause that is important to them and that consumers believe that companies must actively minimise their environmental impact.
A key takeaway from this study is that it is not only important for consumers that brands are more ethical and socially active, it is also important for them to feel that brands are authentic about their messaging. In reaction to this study, John Shaw of global brand agency Brand Union pointed out that companies need to recognise that consumers can spot brands’ exploitation of their feelings and may receive backlash for this.
Shifting to More Eco-friendly Practices
If the trends continue, going green is a change businesses will have to make sooner rather than later. The shift is without a doubt challenging as businesses need to review their activities and business model, but they can start by looking into their energy consumption, transport emissions, waste disposal and suppliers.
To find the right green approach for your business, there are many consultancies you can approach. For advice on waste disposal, we are more than willing to help you.
We are dedicated to preserving the environment and have helped various industries for years in their move to be more environmentally conscious. Our services include total waste management, materials recycling and skip hire services.
Contact LKM Recycling today to see how you can go green.