As we have discussed before, sustainable marketing is emerging as a more important strategy. See, for example, 1, 2, 3. Today, we look at the evolving state of sustainability in marketing. Tomorrow, we turn to the broadening concept of sustainability.
Part 1: Evolving State of Sustainability in Marketing
During the 21st century, sustainability has gained in importance for many firms and their consumers. But not enough for a host of critics.
“Consumers don’t just demand that firms make changes to better the world. Indeed, they also make a few adjustments themselves. 73% say they would definitely or probably change their habits to reduce their impact on the environment. That doesn’t mean every sustainability trend provides for growth. Yet, many sales trends globally that show products in the sweet spot of ‘healthy for me and healthy for the world’ are growing in demand. As consumers weigh the choices, they view each opportunity through the lens of convenience, price, and awareness.”
See the overlap of these two concepts in the chart below.
“Many consumers are more aware of what they put into their bodies. And on their skin. They want to buy — and may pay more for — products that also help the environment. ‘Sustainability shows consumers that you listen to them. And think about how you produce products. With proper messaging, sustainability can represent a premium. Such as quality, superior function, uniqueness, and ‘go-local’ movement,’ said Crystal Barnes, SVP, Global Responsibility & Sustainability.”
“Half of global respondents (49%) will pay more for products with high-quality and safety standards. They often associate these standards with strong sustainability practices. In addition, consumers will open their wallets for organic products (41%). Those made with sustainable materials (38%). Or items that deliver on socially responsible claims (30%).”