83% of business leaders regard sustainability as a major opportunity

Source: Edward Howell

 83% of business leaders regard sustainability as a major opportunity

 

Thomas Reiner | 04.11.2020

A recent Longitude study of business leaders and consumers demonstrates once again the outstanding importance of sustainability. Sustainability is not a niche topic, but a game changer. Anyone who still hasn’t grasped this will soon have missed the boat. Because we are at the tipping point. Those who act proactively will get a boost. Those who remain reactive will get struck.


 

Longitude, a company belonging to the Financial Times, recently conducted a broad-based survey in the UK, asking 200 executives from the FMCG, retail, e-commerce and consumer goods sectors and 1,500 consumers about sustainability. The focus was on attitudes and beliefs regarding sustainability, their impact on consumer behavior and expectations for the implementation of sustainability by brands, retail and industry.

The results of the survey confirm that sustainability has long since become more than a fleeting trend or a niche topic. And they prove the key role that packaging plays in the sustainability complex.

– 83 percent of the executives surveyed see sustainability as a good opportunity for business.
– 72 percent have recognized that sustainability will remain a permanent topic.
– 74 percent do not want their competitors to gain a lead in the area of sustainability.
– 68 percent see packaging materials as the greatest challenge in terms of sustainability and therefore focus their innovation work on the areas of packaging and waste reduction.
– 61 percent of consumers expect brands to demonstrate tangible progress in the area of sustainability. For them, sustainability is a decisive reason for buying or not buying products.

The UK has long proven to be a reliable reference market and a guide to market developments. We can safely assume that the other markets will quickly follow suit.

For industry, brands and trade, the survey is a wake-up call. And more than that: it is a last call! Because we are at the tipping point. Consumers expect sustainability and are no longer prepared to make compromises here.

Any company that takes a proactive approach and can demonstrate corresponding activities and results will benefit greatly from this and gain a decisive advantage in the market. Those who persist and wait, on the other hand, will be caught unprepared by the sustainability blow and left behind as victims.

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