Then, Now, Next: Looking ahead to 2023. Eco-Value & Pragmatism

This year’s annual climate summit: COP27, acted as a stark reminder of our joint accountability when it comes to acting with urgency to help reduce our environmental impact.

However, the rising cost-of-living crisis is acting as a barrier to consumers whose minds are being guided by their pockets.

So, how can brands meet the needs of a population that is increasingly mindful when it comes to money whilst also hitting the mark with your sustainability agenda?

There is a need to define and emphasise eco-value for consumers. By moving to pragmatic essentialism, brands can better support their consumers to save pocket whilst saving the planet.

The growing concerns surrounding greenwashing from consumers makes honest communication key for the brands that want to demonstrate a genuine commitment to their customers and the planet.

An Eco-practical mindset

Adopting an eco-practical mindset will be crucial for brands looking ahead if they want to capture the attention of the consumers who are demanding products with a clear eco-value.

Products with eco-value will offer customers a positive alternative to their current purchases, allowing them to save money and the planet at the same time.

Offering more pragmatic products, for example, items with a longer life cycle, or products that are multi-use, will not just appeal to the eco-conscious but the frugal minded too.

Selfridges: Eco-Services

Selfridges has harnessed a more pragmatic approach to introduce a service that provides their consumers with eco-value.

This British department store has launched ‘Project Earth’ styling appointments as part of their broader sustainability agenda. Through bookable appointments, customers can receive tailored advice on how to build planet-conscious looks or styles that have longevity too.

Creating styles with longevity are a key part of this service to discourage customers from a disposable approach to fashion and accessories, which negatively impacts our wallets, as well as the planet.

Adidas: Eco-Products

Adidas’ Solar charged headphones are another poignant example of Eco-pragmatism. Using sunlight, they allow a planet-friendly alternative to conventional charging methods which do not impact our energy bills, or the environment.

These headphones are also made from 87% recycled plastic, further enhancing their eco-value for customers.

Honest Communication

A report from consultancy.uk found that consumers are willing to pay 25% more for products that prioritise the planet. However, in order for these customers to put their wallets on the line, they need to trust the brand they are buying from.

With 49% of Brits believing that brands are guilty of greenwashing - retailers must ensure they deploy honest and transparent messaging.

For example, Danish fashion Brand Ganni is a great example of honest communication; using their website, the brand explains how despite achieving B Corp status, they are still striving to do more. They state: “it’s about progress, not perfection”, going on further to outline their current metrics for the assessment’s impact criteria.

Key takeaways

- In order to future-proof your brand – the key is ensuring your products offer consumers a combined opportunity to act both frugally, and eco-friendly at the same time.

- Honest communication is imperative if you want your consumers to invest in your brand when it comes deliberating who they deem to be most committed or transparent when it comes to the environment.