Nielsen Report on Sustainable Products
Updated: Jan 29, 2019
Most recent Nielsen Report on Sustainable Products (October 2018) is clearly another evidence of the “Business Case for Action” for Companies to pursue Sustainable strategies. The link between Sustainable strategies and bottom line improvement is becoming clearer. The study compared the performance of sustainability claims in the U.S. across three product categories—chocolate, coffee, and bath products. Main conclusions:
1. Sustainability Sells
2. 81% of respondents said that it’s extremely or very important that companies implement programs to improve the environment
3. 73% said they would either definitely or probably change their consumption habits to reduce their impact on the environment.
4. Sustainability claims on packaging must also reflect how a company operates inside and out. Winning requires making sustainability a key part of your business strategy from beginning to end.
5. There’s no denying the fact that consumers around the world are paying more attention to the impact of their decisions on the world around them. And the more attention they pay to sustainability, the more companies have to as well.
This report, yet again, is making “easier” for companies to embark on this “sustainable journey”. The likelihood of a future market scenario where customers DO care (meaning, will “only” buy sustainable products and services) seems very high, which implies that is the only path to compete. As I see it, Sustainability is becoming a source of competitive advantage. First movers will benefit, but need to move fast: sooner than most would imagine, I reckon it will become the “new normal”.