With today’s post, we wrap up this week’s 4-part series on sustainability. We call it sustainability and brand trust.
In order, these were the other posts:
- Conscious Consumer Segment Is Growing
- Shopping for Sustainable Clothing
- Guilt-Free Laundry Coming Soon
The Relationship of Sustainability and Brand Trust
How related are these two concepts? Nielsen recently did a study on these topics.
As reported by Julia Wilson for Nielsen:
“Consumers will spend up to $150 billion on sustainable products by 2021. However, they don’t value all attributes considered ‘sustainable’ equally. Therefore, different attributes resonate best within different product categories. Thus, brands should take care to focus on products with sustainability claims with credibility and trust. Or they could end up alienating customers.”
“In our April 2019 Omnibus study of 21,000+ U.S. households, we found that products that are environmentally friendly and use recycled packaging resonate most strongly with consumers overall. Consumers find both of these qualities as most important to their decision making. As well as top attributes they would pay more for across all categories.”
“This is good news for all marketers seeking to connect with sustainability-minded consumers. Brands in most categories can incorporate recycled packaging into products. Whereas other top attributes might be relevant only in specific categories. An awareness of an attribute’s value can increase consumers’ willingness to pay more. Across categories, consumers’ familiarity with an attribute strongly correlated with their willingness to pay more for it. “
“The top attributes that more than one-third of consumers were willing to pay more for included. Cruelty free (31%). Farm raised (32%). Organic farming (33%). And environmentally friendly (33.5%).”‘
3 Replies to “Sustainability and Brand Trust”
I find it surprising that “Consumers will spend up to $150 billion on sustainable products by 2021″. I never knew how important consumers took sustainability when purchasing products and it is amazing. I guess as generations grow and evolve more and more consumers are caring for the world and the environment, which will hopefully continue to grow this stat as years come.
Four attributes that more than one-third consumers would willing to pay include “cruelty free” which is the most interesting one. If we take a look at other three, farm raised, organic farming, environmentally friendly all correlate with healthy or flavor, which directly linked with products’ quality that people can used for, but “cruelty free” cannot bring extra function to consumers about those basic need which products can provide to consumers. It tells business leaders that in the future consumer are more focus on products’ animal rights protection, which can ruin a traditional one but also can build a new trend.
I’m a sucker for a good sustainability conversation. It doesn’t surprise me much that the April 2019 Omnibus study found that products that are environmentally friendly resonate most strongly. Then again as an avid snowboard in order for my hobby to remain I need to winter and maintaining the environment is key to that. Then again, until recently I failed to realize how much I was reliant on sun, snow or other natural resources to enjoy the things I like to do. As our consumer behavior shifts in this way I believe our understanding will shift as well to be more productive in the new products produced.