Colombates / May 8 -2023

More and more people are reconsidering their priorities when making purchases. In an economy with a growing supply of products and services, and greater access to information, the buyer holds a privileged position to be more demanding. According to the 2022 Trends report from IBM, 4 out of 5 consumers have stated that sustainability is important in their purchasing decisions; they are even willing to pay an additional value for sustainable products and services.

The challenge of being truly sustainable
Understanding sustainability as a balance between environmental care, social well-being, and economic growth, the challenges for companies are substantial, as consumers are seeking not only sustainable labels but real strategies that demonstrate a genuine commitment from companies to these three aspects.

In the purchasing process, the buyer analyzes various factors that influence their decision, and sustainability is a decisive one. Given that this is such a broad concept, there are some factors that are more relevant than others. Knowing them is essential for companies to offer clear and genuine information about their efforts in each direction.

Decisive factors in purchasing decisions
In a study conducted by Deloitte in 2022, we found 5 decisive values that customers consider when making purchasing decisions.

Sustainable packaging
Sustainability, not only of products but also of the packaging they use, is crucial when making purchasing decisions. Recyclable, reusable, sustainably certified, biodegradable, and sourced from renewable sources are key for consumers.

Waste reduction in the production process
For individuals, understanding a company’s production process is important, considering factors like the responsible use of natural resources and waste reduction.

Commitment to ethical work practices
Brands face the challenge of demonstrating high ethical standards throughout the research, production, distribution, and sale of their products.

Protection of biodiversity
Users prefer brands that show a clear commitment to protecting, conserving, and restoring biodiversity. According to the World Economic Forum (WEF), over half of the global GDP depends on nature.

Respect for human rights
Practicing and respecting human rights, such as protection against exploitation and child labor, is important for consumers.

In conclusion, companies must prioritize robust sustainable strategies, as well as provide detailed information about their processes, commitments, and initiatives if they want to connect with today’s consumers, who are driven by sustainable and ethical purposes. It’s also important to understand that brands are not detached from society; therefore, they must commit to development, innovation, and transformation in support of the environment, social well-being, and economic growth.

You can find more information about the mentioned studies:

https://www2.deloitte.com/uk/en/pages/consumer-business/articles/sustainable-consumer.html

https://www.ibm.com/downloads/cas/4NYDEKQZ

https://www.weforum.org/press/2020/01/
half-of-world-s-gdp-moderately-or-highly- dependent-on-nature-says-new-report/