Sustainability used to be a luxury for businesses, but it has now become a necessity. One of the first things that consumers today ask themselves when purchasing a product is how it impacts the environment.
In response to this growing interest in healthy living, most companies are increasingly adopting cleaner and greener methods in their product supply chain. Using eco-friendly packaging materials such as the compostable Hero Packaging is a good example and an important step in reducing plastic waste.
Whether you run a small business or a big company, there are many ways that sustainability can help your operation. Here are some of them.
1. Improved Corporate Image
Today’s generation of consumers are very particular about their choice of products and are more likely to purchase from companies that exhibit social and environmental responsibility. Most brands leverage this by incorporating their sustainable efforts in their marketing strategy. Those who do it right enjoy a better public perception, especially among millennials and Gen Zers. With the improved corporate image comes more support from target consumers, which translates to better sales.
2. Reduced Product Liability Risk
One of the biggest concerns for business owners is how their products affect consumers. An adverse health reaction is not only potentially harmful to consumers but the business as well. With the non-toxic and allergen-free compostable Hero Packaging, the risk of product liability from allergic reactions is greatly reduced, even eliminated. It will encourage people to choose your product despite existing allergic conditions and expand your base.
3. Compliance to Carbon Emission Policies
The steadily increasing greenhouse gas in the atmosphere has prompted policymakers to encourage carbon reduction in both the private and public sectors. These legislations aim to reach target levels of carbon emission by handing out financial incentives to compliant groups.
Being sustainable in every stage of the product supply chain will significantly reduce your carbon footprint, help your company comply with environmental policies, and meet business goals.
4. Expanded Consumer Base
Environmental awareness is increasing, especially in the younger generation, and this is greatly reflected in their purchasing behaviour. Around 70% of consumers aged 15 to 20 make their purchases almost exclusively from companies with sustainable advocacy. Multiple global research has also shown that those born after 1990 consider sustainability when making their purchasing decisions. Adopting a more eco-friendly business strategy would significantly expand your consumer base and boost your financial viability.
5. Reduced Production Costs and Increased Productivity
Some companies shy away from sustainable business practices in fear of additional costs and complicated product supply chain. This, however, could not be further from the truth. Adopting a sustainable business strategy streamlines your operations, saving precious effort and resources. For instance, discarding waste plastic packaging is extremely wasteful, amounting to losses of $80 to $120 billion annually in the global economy. The circular approach of reusing, recycling, and composting is not only advisable but necessary to lessen these losses.
Using green Hero Packaging and adopting a sustainable product supply chain goes beyond an improved brand image and strengthened marketing strategy. Preserving the environment is every company’s responsibility as much as it is every person’s. As consumers’ purchasing habits continue to shift to sustainable products, companies must look for more ways to make their operation eco-friendly.