Over the last five years organizations all over the world have increased their emphasis on sustainability.
As customers gradually support social movements and pursue goods and brands that align with their ideals, sustainability has indeed crossed a threshold.
Organizations must protect the earth while still increasing long-term sustainability by reducing pollution and resolving global threats to the climate and environment.
Companies are now making a drive towards sustainability, there are reports of companies adopting sustainability practices, and customers care about sustainability initiatives.
The world is becoming more aware of how corporations and brands contribute to society in areas other than marketing and sales.
A surge of advocacy, financial innovation, and government initiatives aimed at meaningful social change has ushered in the new decade.
An increasing number of Corporate leaders, lawmakers, and consumers recognize that major social and environmental issues, especially climate change, are outpacing the current system.
Companies are under pressure to adapt, and they understand that embracing structural change and disruption to solve the world’s pressing issues would open up enormous opportunities for creativity, innovation, increased impact, and profitability.
To counter the effects of globalization, it is becoming increasingly important to incorporate sustainability into corporate strategy.
Although some are affected by a growing customer base that is more conscious of the effect that the goods and services they purchase have on people and the world, others are motivated by their company’s position in society as a whole.
Here are some stats and trends on how important sustainability is to consumer behavior:
Global sustainable and environmentally friendly investment has increased by 68% since 2014 and now exceeds USD 30 trillion.
60% of customers said they would change their shopping patterns to help the climate.
Consumers place a high value on sustainability, with 80% stating that it is essential to them.
70% will pay a premium for brands that are environmentally friendly and sustainable.
Consumers are eager to adjust their buying behaviors to help reduce negative environmental effects, with 57% saying they are willing to do so.
When it comes to food shopping, 44% of shoppers are purpose-driven, indicating that they care more about what they put in their bodies than what they put on them.
78% of customers believe it is important for brands to have clean goods.
77% of Consumers value products that are environmentally conscious and sustainable.
76 percent of customers believe it is important for brands to promote recycling.
Natural ingredients are essential to 72% of respondents.
Read more on Crenov8:
Implementing and sustaining long-term organizational change
Sustainability is the New Digital Transformation
Customer Experience is fundamental to the long term growth of any Business