Sustainable Success
5 min read
- Are sustainable products successful?
- The rise of consumer CPG’s!
- What can we all do to help the effort?
Are sustainable products successful? This is a question that brand managers have been dealing with for years. As awareness of sustainability issues grows, consumers have begun to care more about the eco-friendliness of the goods they buy. This has begun to meant trouble for corporate executives who have, traditionally, strayed away from prioritizing sustainability to maximize profits. The common belief is that consumers morally align themselves in support of sustainable goods but don’t actually buy them. A recent study done by NYU’s Stern Center refutes that claim.
The growth of sustainable CPG’s!
In recent years, consumers have increasingly spent more on sustainable goods. In 2018, goods marked as being sustainable raked in about $114 billion dollars nationwide. This is A 29 increase from 2013. In addition, the market share of sustainable consumer packaged goods grew from 14.3% to 16.6% in the same time span. This growth cannot be ignored. Also worth noting is that sanitary napkins and laundry care saw a 150% increase in market share. These sectors have typically underperformed so this growth directly displays the shifting consumer attitude towards sustainable goods.
Make your voice heard!
As sustainability becomes more important, companies will have to adapt to stay competitive in markets where consumer ideals are shifting. Companies are being forced to innovate to meet these standards. As Harvard Business Review states, “Consumers are voting with their dollars.” We must continue to make our voices heard this way. Legislation forcing sustainable practices can be painstaking to get passed. Therefore, we all need to “vote” every time we leave the grocery store. We have the power to pressure companies to change, leading to a better future for all of us. Join Physis to help be a part of the change we all want to see.
References:
https://hbr.org/2019/06/research-actually-consumers-do-buy-sustainable-products
Related Articles
Robo-advisors are a safe and secure way to invest your money online and they are…
A quick description breaking down the meaning of “Impact Investing” and why it's important!
Through your investments, you can make the world a better place. Your money can drive…
Starbucks is one of the leading coffee brands in the world, but how sustainable is…
A brief summary of the rise of Sustainable Investing followed by a breakdown of common…
Sign up for FREE and join the waiting list to get early access to the beta platform:
create your investment
see the impact of your portfolio
track your performance and start investing real money only when you feel confident
