Sustainability can sometimes seem like a buzzword. We see it used in marketing to promote a product, environmental entities urge us to be more sustainable in our daily lives, and governments are constantly using the word “sustainable” to explain new economic strategies.
When you hear a word thrown around too often, it can begin to lose its meaning. Now that it seems that everyone is trying to be more sustainable, it’s easy to forget that it’s not just important, but imperative.
Offering sustainable products to your customers is the best choice that you can make for your company and the planet. The world cannot go on as it is, and as a global community, we must do what we can in order to preserve our resources and ensure a thriving future. Companies have a uniquely important role to play as producers and influencers.
Providing sustainable products to your customers is a great way to make the world a better place and grow your consumer base. Here’s why sustainable offerings are great for business and good for the planet.
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Customers want sustainable products
We’ve known for a while that consumers want businesses that they support to help them be more sustainable in their daily lives. This is something that’s only becoming more important.
A survey by First Insight and the Baker Retailing Center at the Wharton School of the University of Pennsylvania found that 90% of Gen X consumers said they would pay 10% more for a sustainable product. Compared to another similar survey from the same group two years ago, in which it found that only 34% of Gen Xers would pay more for a product, it indicates a massive increase in sustainability interest among consumers.
Furthermore, most consumers want sustainable products for the health of the planet; only 7% of responders said that they desired sustainable products out of social pressure. This shows that sustainable consumerism is not a trend, and it’s here to stay.
Gen Z and Millennial consumers also have a deep desire to shop more sustainably. However, consumers and retail execs do not align when it comes to sustainability. According to the above survey, 100% of retailer executives believed that consumers cared more about brands than they did sustainability. In reality, only 56% of surveyed consumers placed brands at somewhat or very important while sustainability ranked much higher.
This reveals a glaring gap in the market. The desire for sustainable products is growing; meanwhile, retailers fail to provide consumers with the sustainable products that they’re asking for.
Companies that pay attention to their customers’ needs can take advantage of this gap by providing the sustainable products that customers want. Companies that offer sustainable products to their customers will have a competitive edge against competitors who aren’t. And, as of now, it seems that few companies are offering sustainable products in favor of recognized brands.
Circularity benefits producers
Sustainable products are a huge part of circularity. Products that are sustainable are made of recycled or upcycled materials, they use very little (ideally no) plastic packaging, and they can be discarded in a circular way, either through reuse or recycling. Ultimately, this is great for everyone, but it has its economic benefits as well.
The circular economy is all about preserving our resources and using materials to their utmost extent before they are discarded. If you think about it, it’s clear why producers should desire a circular economy; companies want to preserve resources as much as possible so that they can continue to use them in the future.
Some of the biggest benefits of a circular economy for producers are:
- It helps to maintain the security of raw materials.
- It boosts the economy by keeping resources and materials within a country (which is especially important for countries with few resources).
- It reduces environmental pressure.
Beyond the benefits, governments all over the world are beginning to provide incentives to companies that help attain a circular economy system. Forward-thinking business owners would do well to anticipate these incentives and take advantage of them. One way to do that is through offering sustainable products.
Sustainability is the right thing to do
Although the economic benefits of sustainability abound, there’s a big reason why companies must offer sustainable products: it’s the right thing to do.
For decades, scientists have been warning us that humans are leaving a lasting, negative impact on our planet. Our climate is changing at an unprecedented degree, resulting in the loss of ecosystems. We are using resources at an astronomical rate—one that cannot be sustained for much longer. The consequences of climate change are not just theoretical; they are coming to fruition.
As a country with a vast shoreline, Vietnam stands as one of the countries that may be most affected by climate change. The rising sea levels have already caused issues in areas like the Mekong Delta where its elevation is quite low. But, rising sea levels are only one problem. Mining and dams upstream have caused riverbed erosion, introducing saline water to fresh water. This has a huge negative impact on the ecosystem, much of which the local populace depends on.
Besides this, many vulnerable communities are drowning in plastic waste, which can release toxins under UV light from the sun. Air quality is also an issue, especially in cities like Hanoi and Ho Chi Minh, with smog sometimes reaching dangerous levels.
Sadly, the consequences of climate change largely fall on vulnerable communities while those who have the power to make a difference remain blissfully removed from the repercussions. However, this will not remain so for long. If nothing is done, more and more people will experience the negative effects of climate change. We must act now if we want to secure a happy future for our planet.
Business owners have perhaps the most important role to play when it comes to achieving sustainability goals. Offering sustainable products is not just a shrewd business decision; it’s what must be done for the sake of our future.
Take the first step by offering reusable bags by bk-bags
You’ve got to start somewhere; moving toward a more sustainable business model is not something that can be done overnight. It will take years of strategizing and implementation. In the meantime, you can take one small step toward sustainability by offering reusable bags from bk-bags in lieu of disposable plastic ones.
Our reusable bags are durable, versatile, and aesthetic. Furthermore, we thoroughly vet all of our supply chains to ensure the highest standards of sustainability and ethical sourcing. You can feel good about offering our bags to your customers knowing that they came from a positive source.
We have a wide variety of bag materials available to suit your customers’ needs. We can even print your company’s logo or another design on the bag, customizing your offering and providing a unique marketing opportunity.