LONDON--(BUSINESS WIRE)--Global market research company Euromonitor International launched today a new whitepaper, ‘How to become a sustainable brand’.
This whitepaper explores how companies can utilise different strategies to align with new government policies and consumer behaviours, while maximising profitability. More consumers are proactively leading a sustainable lifestyle. According to Euromonitor International’s latest sustainability survey, 54 percent of global consumers believe ethical purchase decisions will make a difference.
With sustainability becoming key for business success, investors are moving away from short-term profit and injecting capital into more sustainable companies. The market for sustainable packaged food and non-alcoholic drinks was worth over US$ 1 trillion in 2018 and is expected to increase by 18.5 percent by 2023, according to Euromonitor International’s latest research.
Opposing the throwaway culture, one-fifth of the global consumer population prefer to repair damaged items. This shift in consumer behaviour is leading brands to respond accordingly. For example, outdoor clothing brand Patagonia, offers a free repair service to increase product longevity and reduce waste generation.
“While sustainability has long been somewhere on the agenda for many, we are now moving from a ‘knowledge to action’ culture, to a ‘purpose to advocacy’ one.” concludes Senior Consultant, Maria Coronado Robles.
To download the complete whitepaper for free, please click here
About Euromonitor International
Euromonitor International is the world’s leading provider for global business intelligence and strategic market analysis. We have more than 40 years of experience publishing international market reports, business reference books and online databases on consumer markets.