One study suggests that consumers in Europe, Asia, and North America prefer eco-friendly companies. It shows that consumers are more likely to first look at its environmental footprint before buying its products.
In this study, the participants were given nine industries to choose from. And 1 out of 4 respondents said that they think that the chemical industry is less concerned about the environment. Seventy-seven percent of respondents believe that plastic is a less environmentally friendly type of packaging. And they said that papers are the most environmentally friendly product.
So how does going green affects consumers? Read on to find out.
Consumers consider the impact of a product on the environment.
According to studies, many consumers form relationships with companies and brands that give attention to the environmental impact of their products. Accenture researchers pointed out that quality and affordability are still the main factors that boost a product’s purchases.
The study suggests that from its respondents, 89 percent said that they care about the product’s quality before buying them, and 84 percent care about the price. A huge number of consumers consider the quality and financial impact of a product first. But 49 percent of the respondents said they care about health and safety.
Other than that, research has shown that 72 percent of its respondents said they are buying environmentally friendly products more actively than they did years ago. And 81 percent said that they would continue to buy ecologically friendly products for the following years.
Jessica Long, the managing director of strategy and sustainability in Accenture, said that companies need to increase their commitment to different business practices, such as creating more environmentally friendly products. And it is because the consumers are willing to pay more for environmentally friendly products.
But that’s not all, an eco-friendly company must instill environmental awareness in all its processes. In other terms, its hiring processes, workplace values, and marketing strategies should all align in caring for the environment. For instance, instead of using printed ads, why not opt for SEO marketing to reach more audiences.
Companies across different industries are now starting to lead with this purpose. This includes embracing the circular economy and treating it as an excellent opportunity to grow and have competitive agility. Take note a lot of customers are willing to pay extra for high-quality and sustainable products, including environmentally friendly packaging.
Consumers are questioning the impact of plastics and chemicals.
The majority of consumers are now developing awareness about how their products are being packaged. And recent surveys show that a lot of people are now paying attention to the climate crisis happening around the world.
Twenty-six percent of the survey respondents said they believe that the chemical industry is the least worried about its impact on the environment among the nine industries in the survey. Survey participants ranked the chemical industry as the lowest in terms of how they communicate about the effects of its products on the environment. Seventy-two percent of participants said they are not very confident using these products. Or they are not confident at all.
The chemical industry is known as a major industry that pushes recyclable and reusable materials worldwide. Plastics are considered a major pollutant globally, and they have been manufactured by the chemical industry and some other companies.
Rachel Bartels is a senior managing director in Accenture. She leads its natural resources and chemicals practice. Some of the results of the survey are positive. But there are also some implications for the chemical industry and chemical companies. This includes the need to overcome the negative sentiment of consumers. And also, they need to produce materials that are sustainable at a reasonable price.
She also stated that the industry of chemicals is a major enabler of the circular economy. And it can speed up the adoption. And the truth is that this industry should strive to be in the front row or be left behind.
A lot of consumers are interested in living sustainably and do everything they can for it. Of course, they expect businesses to help in that part. Many consumers are looking for companies and brands that match their values. Most of them are also willing to change to another brand or company if the one they are using violates their values and ethics.
Some consumers are taking it to social media. They use this platform to address their complaints and concerns. And some of them are willing to protest physically in their location for their stand. That is why it is important for businesses and companies not to ignore the concerns and values of their active and loyal customers.
A lot of people are now aware of their environment. They know that will be destroyed in no time if not given enough attention. That is why many consumers are doing everything they can to live environmentally friendly, and part of it is the brand and products that they are using.