Customer demand for environmentally-friendly offerings has been on the rise for years, but its market hold is now so strong that not even the COVID-19 pandemic managed to slow the trend down. The 2021 Global Sustainability Study authored by Simon-Kucher & Partners looks at how companies can innovate their business practices to become more sustainable, and why they should do it sooner rather than later.
The Growing Desire for Sustainable Products
Research from NYU recently highlighted the permanence of sustainability-marketed products compared to conventionally marketed merchandise: “Despite significant price premiums, sustainability-marketed products grew far faster than conventionally branded players and had lower price sensitivity in two-thirds of categories examined,” the study reports, and “in 75% of the categories examined, sustainability-marketed products performed better online than in-store.”
