Things are finally looking up for sustainable businesses! A recent report by NYU Stern’s Center for Sustainable Business just completed extensive research into U.S. consumers’ actual purchasing of consumer packaged goods (CPG), using data contributed by IRI, and found that 50% of CPG growth from 2013 to 2018 came from sustainability-marketed products. Products marketed as sustainable grew 5.6 times faster than those that were not. In more than 90% of the CPG categories, sustainability-marketed products grew faster than their conventional counterparts.
Consumers and especially Millennials are now voting with their wallet and helping to carve out their future by shopping ethical and sustainably made products and buying from businesses with good practices. The problem with packaged goods is a lot of the time with the packaging itself – how to maintain the best quality of product if it’s not wrapped in plastic? With more and more zero waste and plastic-free supermarkets nowadays such as; Ekoplaza, a Dutch plastic-free supermarket that has opened branches across Europe and now in London and our very own Hong Kong based Slowood and Livezero – we do now have some options.
Beauty and food products were of course ranked high in this survey – as naturally, it is the first thing we consider; what we put directly in our mouths and on our skin. However we are hopeful that one day what we wear will be just as important, as consumers are a lot more informed about what they are actually buying nowadays.