In today’s marketplace, sustainability has gone from being a choice to a business imperative. Consumers are increasingly aware of the impacts of their personal choices and as a result, are choosing to purchase from companies that are taking meaningful steps to reduce their emissions, cut waste and support their communities to take action. For their part, leading organizations in the space see environmental initiatives as a competitive advantage and are embracing them as opportunities to create better products, streamline their operations and deliver value at every stage. While these pro-climate strategies tend to require greater upfront investment, over their lifetime they have the potential to deliver exponential returns through revenue associated with increased sales and new business models.
Within our latest research, the PSFK team has seen a diverse range of businesses from apparel and home goods to grocery and electronics prioritizing sustainability efforts that create new touchpoints and extend their ‘permission to play’ well beyond the point of purchase. The circular mindset and approach views both the product and the customer relationship as a continuous lifecycle with shared responsibility throughout. Practically speaking, this translates into companies using education to help customers adopt better behaviors and take incremental actions to achieve larger collective results and finding innovative ways to keep both products and their packaging in circulation longer to reverse the course of our disposal culture. Read on to discover eight key trends brought to life my progressive examples from leading organizations.
Published May, 2021
The PSFK Weekly Debrief Includes: