We are transitioning to where sustainability is a baseline requirement for purchase.
Per this Harvard Business Review article, there are three things for you to consider
- Trust drives behavior and ultimately business outcomes – Highly trusted companies outperform others by up to 400%
- Sustainability promotes trust, particularly among younger generations – sustainability stands out as a critical driver of intent, especially in young people, who care about a brand’s positive intent
- Younger generations will soon have most of the purchasing power – We are seeing this play out today, but it will progressively increase as Millennials and Gen Z will surpass Boomers in purchasing power by 2030
We are already seeing the impact, as certified sustainable businesses are dramatically outperforming their non-certified peers.
As consumers become more demanding, as corporate mandates become more demanding and as government compliance becomes more demanding, expect sustainability to be even more important; becoming a baseline requirement for your business.
Per the attached article, “Companies should prepare now.” Those that are already certified are taking market share as you read this article.