Global market research company Euromonitor International launched today a new whitepaper, ‘How to become a sustainable brand’.
This whitepaper explores how companies can utilise different strategies to align with new government policies and consumer behaviours, while maximising profitability. More consumers are proactively leading a sustainable lifestyle. According to Euromonitor International’s latest sustainability survey, 54 percent of global consumers believe ethical purchase decisions will make a difference.
With sustainability becoming key for business success, investors are moving away from short-term profit and injecting capital into more sustainable companies. The market for sustainable packaged food and non-alcoholic drinks was worth over US$ 1 trillion in 2018 and is expected to increase by 18.5 percent by 2023, according to Euromonitor International’s latest research.
Opposing the throwaway culture, one-fifth of the global consumer population prefer to repair damaged items. This shift in consumer behaviour is leading brands to respond accordingly. For example, outdoor clothing brand Patagonia, offers a free repair service to increase product longevity and reduce waste generation.
“While sustainability has long been somewhere on the agenda for many, we are now moving from a ‘knowledge to action’ culture, to a ‘purpose to advocacy’ one.” concludes Senior Consultant, Maria Coronado Robles.
To download the complete whitepaper for free, please click here