What Today’s Business Owners Need to Know About Sustainability

Without a doubt, sustainability is on everyone’s mind. And while negative headlines fuel climate anxiety, there’s plenty of positive news to feel good about. Electric vehicle sales are up, many regions of the world rely on wind and solar energy more than fossil fuels, and a significant (and growing) coalition of leaders in the U.S. committed themselves to upholding the Paris 2015 Paris Agreement, which 197 other countries signed onto.

As an e-commerce entrepreneur, you, too, can be a leader in sustainability. Being green will also help your business THRIVE. In this article, we lay out everything today’s business owners need to know about sustainability.

Consumers Care About Sustainability

You can be sure that sustainability is top of mind when your customers click on your e-commerce website.

According to a survey by NielsonIQ, 78% of consumers in the U.S. value a sustainable lifestyle. And the trend toward sustainability is global, with a 71% increase in worldwide searches for eco-friendly products. According to McKinsey, over 60% of those surveyed said they would pay more for a product with environmentally friendly packaging.  

But They Still Care About Quality and Price More

Although consumers care greatly about the environment, they are still most concerned with the financial impact of their purchase. Customers want a quality product at a good price.

A survey by Accenture found that customers care most about quality and price, at 89% and 84%, respectively. That being said, almost 40% of consumers stated that they consider a product’s sustainability when purchasing.

One-Quarter of Consumers Follow Through with Sustainable Purchases

According to Profile Tree, 26% of consumers follow through on their commitment to purchase sustainable products. Sure, that’s much lower than the 65% of consumers who say they will buy green products.

But the “tipping point” in sociology refers to the way in which behavioral changes take place in society. Basically, once a smaller percentage of individuals begin behaving in a certain way, the behavioral changes take off, sort of like a virus.

In other words, as more and more people factor sustainability into their lifestyle and purchasing decisions, the trend will spread like wildfire.

Corporate Leaders Are Responding to Consumer Demand for Sustainable Products

Already, consumer demand for sustainable products is transforming the market. Apple has already committed to being carbon neutral by 2030. And they’re doing so in true Apple fashion by using robots to disassemble iPhones. The tech giant isn’t the only corporation to go green.

More than half of companies in the fashion industry claim that they are creating green initiatives in response to consumer demand. And overall, about 60% of companies are implementing measures and policies to make their businesses more sustainable. More and more businesses are also taking a hard look at their suppliers to ensure they source sustainable materials.

Successful e-commerce entrepreneurs will follow their lead and develop sustainability initiatives to meet consumer demand.

Consumers Are Wary of Greenwashing

Beware of exaggerating your green initiatives. Making dishonest claims about your commitment to the environment is called greenwashing. And it can erode customer satisfaction and hurt your bottom line.

A European study found that 42% of claims about sustainability initiatives were exaggerated or outright false. A Harvard study found that consumers were overwhelmingly aware of when companies were greenwashing, and customer satisfaction dipped as a result.

On the other hand, adopting meaningful sustainability initiatives and following through on them can help e-commerce entrepreneurs stand out from the competition.

There Are Many Ways to Make Your E-Commerce Business More Sustainable

You can incorporate sustainable practices throughout your business.

Offer Sustainable Products

One of the most important moves you can make is offering more sustainable products. Seek out products made with bioplastics or other sustainable materials. Even plastic products can be sustainable if they are made from recycled plastics.

Incorporate Sustainability Behind-the-Scenes

Creating a green business goes beyond product offerings. In addition, you should look for ways to reduce, reuse, and recycle throughout your business. Consider everything from using energy-efficient lightbulbs to water-saving faucets.

Invest in Quality Carbon Offsets

In reality, most businesses will always put a strain on the environment in some way. Once a business implements green practices, offers eco-friendly products, and cleans up its supply chain, it can use quality carbon offsets to further mitigate its environmental impact.  

Partner With TVCMALL for Your Eco-Friendly Products

Consumers care about sustainability. And more and more, they’re considering the environmental impact of their purchases. You can position yourself as an e-commerce business that cares about the climate by adopting meaningly sustainability initiatives, starting with eco-friendly products.

TVCMALL offers a wide selection of eco-friendly products. From cell phone cases made of bioplastics to reusable straws, we can help you be the go-to place for eco-friendly products. Contact us today.