Growing trend for green living with 9 out of 10 millennials
Business success is defined differently by individual companies. Author of My Start-Up Life, Ben Casnocha explains that, to him, “success means happiness”. Though, whatever your definition of business success it, it’s likely it won’t be achieved if your company is not staying ahead of market trends. Knowing market trends allows your business to make the necessary changes before your competitors do allowing your business to grow successfully.
One major global market trend that has risen to prevalence in the last few years is the changing attitude consumers have towards the environment and sustainable living. In fact, in the 2015 survey by Cone Communications it was discovered that 9 out of 10 millennials would switch brands to one associated with social or environmental issues.
· 4 out of 5 millennials have checked for sustainability information when making purchase.
· 57% would like to see if packaging is derived from recyclable materials
· 43% would like to see if the packaging is made from renewable sources
· A quarter of Americans want to know if the packaging material is made from deforestation-free sources
Source: Sustainable Brands
Failing to keep up with these consumer demands could mean your company is at risk losing customers to competitors who have a transparent sustainable strategy. One simple, low cost method small businesses can employ to become more ecofriendly is to tackle their current packaging strategy. With this in mind, what can your company do to ensure steps are being made to conform to the wants and needs of your audience?
Eco-Friendly Packaging
A great way for start-ups to make steps into sustainability is to utilise biodegradable packaging in their distribution. Typical products such as Styrofoam packaging does not decay and leaches toxins into the earth over thousands of years, luckily thanks to technological innovation biodegradable alternatives are now available. Loose fill packaging chips are created using potato starch and work identically to Styrofoam balls, meaning your goods will still be safe and secure and the environmental impact of your company will be reduced as these products are 100% biodegradable.
Technology giants Dell have taken this approach one step further and by adopting “mushroom packaging”. This packaging material is manufactured using mushroom’s thread-like roots knows as “mycelium” which is biodegradable and certifiably compostable.
Reduce Waste
The EU wants 75% of all packaging waste to be recycled by 2030, but rather than adding recyclable materials to your current strategy, why not consider whether you need the materials at all? Your customers are busy people, when a product arrives from your company they don’t want to be inconvenienced with the task of recycling scores of unnecessary packaging. In recent years even market leaders Amazon have come under scrutiny for inconveniencing customers with excessive packaging.
Today, companies are highlighting their commitment to sustainability such packing boxes Glasgow company who explain which of their cardboard box products are recycled. This helps customers make informed decisions.
Your customers drive your business, and by over-packaging your goods you may be at risk of losing customers to competitors who pack more sustainably. By reducing packaging whilst also ensuring maximum protection you are not only creating positive environmental impact, but reducing the amount your small business spends.
Shout your Sustainability
Incorporating sustainability into your strategy is not just ideal for the environment, but it’s also great PR for your business. Marketing you commitment to green-living on your website will encourage new customers to engage with your brand, not only because of your commitment to the environment but these public statements subconsciously tells visitors you have a long term plan, which increases trust in your brand.
By showing you care about the same things your audience does, you will create personal connections and evoke emotions which encourage your audience to become advocates of your company. Shifting attitudes to environmental issues increase each year. Is your company doing all it can to ensure you are keeping ahead of this trend and capturing new customers thanks to a sustainable strategy?