In case our title throws you, the conscious consumer segment is growing. Let us clarify what we mean. The conscious consumer segment includes shoppers willing to pay more for products benefiting for society. Which means those interested in the environment. As well as those not wanting to use up natural resources. Among other things.
Interested in this topic? Due to its importance, during 2019 alone, we have have posted numerous times. For example:
- In-Depth Look at Sustainability
- Marketing Sustainability Pays Off
- Broadening Concept of Sustainability in Marketing
- Reusable Food Packaging
- Recycling Not Yet Popular Enough
Conscious Consumer Segment Is Growing
Conscious consumer represents another new term for our marketing dictionary.
Recently, Kristin Wong wrote an illuminating New York Times article on the subject:
“From the rise of minimalism to companies making bold business moves in the name of sustainability. There’s been a push for more conscious consumption. According to Nielsen, sustainable product sales have increased by nearly 20 percent since 2014. But what, exactly, do we mean here?”
“Phrases like conscious consumption, sustainability ,and social responsibility are often used synonymously. But some of these phrases have carefully measured definitions. While others are a bit looser. Conscious consumption is an umbrella term. It simply means engaging in the economy with more awareness of how your consumption impacts society at large. Shopping sustainably, with the intent to preserve the environment, is one way to consume more consciously.”
“E.S.G. stands for environment, social and governance. And it measures a company’s commitment. To reducing environmental impact and supporting social justice. As well as their governance and engagement within their communities. The B Lab has an entire online directory where you can browse certified companies. By industry.”
Click the image to read a lot more from Wong.
It is great for companies being on the right side. I have an example when adidas release the new parley shoes to raise awareness the thrash on ocean, It made an significant impact to the consumers. the shoes was made of recycle plastic that was taken from the ocean and it benefited the company huge. In today’s market companies are trying harder to focus on sustainability to have the best impact for the consumers!
I think it is great that companies are taking a stance in this because it is speaking to the consumers. I interned at Nespresso and they are all about sustainability. They offer recyclable capsules and provide bags for consumers to send their capsules to their recycling facility and compost center, which I was lucky enough to visit. The companies passion for sustainability has gone a long way and speaks volumes to consumers.
As the environmental conscious growing in recent years, consumers’ mind and consume behavior change a lot. People are not narrow their horizon and perspective in just consume good and get satisfaction from simple items. They are more and more focus on their contribution and well-being support through the consume behavior. Those extra value which attached in the physical products and services should be thought highly of by business managers, for these determine whether people consume them or not in nowadays and in the future.
I think that companies should actively take the responsibility to guide and educate consumers, not ‘passively’ respond to the growing conscious consumer segment. ‘Global warming’ cannot describe what is going on on this planet and ‘global heating’ has become a more accurate description. The environment is getting worse, we are craving for products that are not only good for human health but are also good for earth’s health. Starbucks straw-less lids can be a good example that, it is only a nuance change in packaging, but it does help to save the ocean beings. There are a huge amount of things companies can do to, and I think countries can set up awards to reward enterprise that makes changes to save our planet in each industries.