Recovery is the name of the game right now, and sustainability is figuring prominently in many of these conversations. Here’s how and why your brand should care about this trend. And ways to start strategizing around it.
Sustainability is more than a buzzword, it’s the way smart businesses are headed. It makes sense, as the largest consumer segments right now – Millennials and Gen Z are very ecologically minded. Let’s dig into that sentiment across various categories and see what it could mean for your brand, including:
- Consumers are passionate about sustainability, so your business should be too
- The conversations around sustainability keep getting bigger, are you listening?
- Examples of brands who are listening and making sustainability a large part of what their business stands for
And here are some sustainability stats to pique your interest:
- 91% of consumers expect businesses to operate responsibly and address social and environmental issues
- 79% of millennials are loyal to companies who care about their effect on society
- Urban living is expected to increase to 68% of the total world population by 2050
Sustainability is Big Business
A key factor in consumers’ decision-making when making purchase decisions is a company’s commitment to causes that they personally hold dear. And, of late (and likely continuing) we see sustainability as a big part of that.
And there are added, often unanticipated benefits beyond making a sale. While it may be an investment that makes you look good from a consumer standpoint – one that enhances long-term loyalty, it will also save you money in the long run. Investing in sustainability improves your business performance and can help reduce business costs by reducing your use of raw materials and packaging.
And it applies to small businesses as well. Even niche businesses that may not otherwise consider the trend worth pursuing:
When using the Quid product to look at the conversations happening in the media surrounding sustainability, right in the center you’ll see that “Business Sustainability” has the largest cluster of topics and stories. And everything surrounding it has some sort of connection back to sustainability in businesses. Here you’ll find conversations about sustainability as it ties back to corporate success and how sustainability is defined in a corporate way, amongst other things.
But why does this actually matter?
Well, to start, millennials make up the largest generation at 83.1 million people (in the United States), meaning this is one of the largest groups of people making purchase decisions each day.
And within this group, 79% of millennials are loyal to companies that care about their effect on society. This means that now more than ever, you need to be focused on more than just increasing revenue and making sales. You need to ensure you are hitting the right touch points to nurture customer love and loyalty by meeting the emotional needs of your consumers, not just the physical.
And the conversations that are happening around sustainability are moving quickly. So, having a solid social media listening strategy in place helps you keep pace with the chatter.
Conversations Shift Quickly
While consumers are rethinking what’s important to them, brands should be too.
Garden Centers, for example, have seen a huge demand of late. And now that things are progressing to towards normal, it’s starting to level off. But, beyond making sales – what insight was readily available to these retailers?
Consumers took to garden centers for peace and comfort during an uncertain time. And the sentiment surrounding the practice was overwhelmingly positive.
Garden centers could create any variety of upsell opportunities to capitalize on that goodwill, including offering virtual classes around how to maintain home gardens. The options for expansion during a time of lockdown are limitless when one is listening.
And it doesn’t only apply to home gardening. But how can other brands stay on top of this demand to be earth-conscious? Let’s dive in.
Saving the Earth, One Brand at a Time
The companies listed below have had the most mentions in the articles tied to sustainability. The majority of them being larger tech companies that consumers use every day.
One of the biggest names here is Amazon, who takes a lot of pride in their sustainability efforts. From their supply chain all the way to their partnerships, they are taking extreme caution to recognize the importance that sustainability has not only for their business when it comes to profits but for brand reputation, too.
Nike, Aldi, Google, Amazon, and Tesla are some of the bigger names amongst others who are well aware of climate change. They’re also aware of how consumers are engaging online about it and are making sure they’re front and center when it comes to doing their part. Sustainability now ties in to overall social and environmental responsibility and brands are expected to visibly support that connection:
From reusable materials and rethinking delivery routes to moving to completely electric cars to cut down on carbon emissions, brands can (and in most instances, must) find a way to support sustainability efforts if they hope to compete for Gen Z dollars in the coming years.
It’s really not hard to find a way in. And if you reach out for a demo we can help you find the right way in that will make you stand out from competitors, while helping save the planet.