Affordable Sustainability

July 2023

Affordable sustainability is now paramount, given the cost of living crisis. Consumers want low prices but this does not necessarily mean giving up sustainable choices. Making sustainability affordable is a global need, where companies can play a key role. To get ahead of competitors and prepare for future risks, companies need to be proactive, balancing their efforts between consumer education, sustainable collaboration and differentiating through claims.

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Key takeaways

Consumers expect companies to be part of the solution

Consumers want to embrace sustainable lifestyles, yet premium prices hinder their efforts. Collaborative efforts between the private and public sectors are crucial to accelerate the transition towards unilinear models and to scale up sustainability offers to help make sustainability affordable.

Affordable sustainability can unleash market performance by balancing wallets and the planet

Amid rising living costs, consumers seek value for money while at the same time, they are unwilling to sacrifice sustainability. As such, cost-effective alternatives such as repair, reduction and second-hand options are gaining popularity. Companies can expect attractive opportunities presented by the increasing demand for affordable sustainability.

Companies should nurture sustainable living on a budget to support frugal consumer behaviour

Sustainability can be complex to understand, both for companies and consumers. Internal alignment within companies is crucial for developing cross-department synergies that unlock cost-reduction solutions throughout the product lifecycle, enabling companies to make sustainable choices more accessible to consumers.

Leverage the right claims for effective and transparent sustainability communication

Companies are struggling to effectively communicate sustainability to consumers. Through trusted methodologies and standardised metrics, claims help companies raise awareness and demonstrate to consumers and regulators the reliability and transparency of their initiatives, as scrutiny on claims intensifies due to greenwashing.

Embrace circularity to unlock opportunities and differentiate

Circular solutions can facilitate the democratisation of affordable sustainability. Businesses should strive to minimise and reuse as much raw materials as possible, resulting in lower costs, reduced emissions and reasonable prices.

Scope
Key takeaways
Exploring affordable sustainability
Drivers of affordable sustainability
Affordable sustainability uncovered
Consumers need support to close the sustainability say-do gap
Sustainability emerges as cost-effective option
Sustainability momentum unlocks market performance
Nestlé partners with Algramo to pilot refillable vending machines in Indonesia
Tesco collaborates with Faerch Group on ready meal circular initiative
Rising prioritisation of value and sustainability in purchasing decisions
Embrace sustainability on a budget for thrifty consumers
Manage internal levers to walk consumers through sustainability adoption
Affordable sustainability remains a challenge for all categories
Walmart’s clean beauty addresses affordability and transparency in the US
Unilever partners with Too Good To Go to provide doorstep delivery to help fight food waste
Foster the path towards sustainable living
Transparent communication of sustainability can be achieved with reliable claims
Data-driven insights help you understand how to win with sustainability claims
Blockchain technology is enhancing transparency in beauty and personal care (BPC)
Papercycle : UK´s recyclability assessment and certification service for fibre -based packaging
Improve your sustainability game with data-led claims
Key takeaways
Affordable sustainability: How to win
Evolution of affordable sustainability
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