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Why is creating a sustainable business so vital? According to Alibaba’s sustainability trends for 2023 Report73% of consumers in 14 markets in Europe, Asia and the Middle East want to lead a more sustainable life. The Global Consumer Insights Pulse Survey 2023 found that 70% of respondents were willing to pay more for sustainably produced goods “to some or great extent.”
Compliance with the principles of sustainable development not only advantages the environment and the local economy, but also responds to emerging customer needs and has a positive impact on the brand’s popularity. Let’s look at actionable steps you possibly can implement in your small business strategy to support an eco-conscious business.
1. Increase product transparency
Take every opportunity to highlight the sustainable features of the products you produce, advertise or sell. Inserting the words “natural” and “eco-friendly” is not enough to differentiate your product, so as a substitute of relying heavily on them in your descriptions, try to describe the steps taken to achieve “eco-friendly” status in each case. thing.
An informed buyer appreciates the specific composition of the raw materials used to produce ceramic glaze. This honest and thoughtful approach to sharing information creates a stronger foundation for your marketing strategy and prevents your brand from falling into emotional but elusive slogans. In our company, sellers must provide detailed descriptions of their products so that customers can make a well-informed decision. These descriptions are actually the key to joining our platform.
2. Partner with sustainable suppliers
The suppliers you’re employed with are often seen as extensions of your brand. That’s why it’s so vital to partner with suppliers who share your company’s environmental values: 44% of corporations have recently began requiring business partners to meet certain requirements. sustainability criteria because indirect emissions account for over 70% of corporations’ carbon footprint. You might consider introducing incentives or a well-defined rating system to further motivate your suppliers to adopt the sustainable practices that are vital to you.
If your small business is season-dependent, prioritizing locally available produce (be it fruit, flowers, or something else entirely) reduces the need for long-distance transportation and helps further minimize your environmental impact. Additionally, it allows you to get more energizing, higher quality products, which might only increase your overall rating in the community.
3. Implement recyclable packaging
Recycling and cutting single-use packaging has been around for a very long time key aspects highlighting sustainable brands. Studies show that buyers are not far behind: 54% want corporations to prioritize environmentally friendly packaging, and 57% support minimal packaging to reduce waste.
Changing the way you package your products can significantly reduce your brand’s negative impact on the environment. Explore the eco-friendly options available in your industry: florists can replace cellophane with wrapping paper in their arrangements, and food delivery corporations can switch to compostable or reusable containers.
4. Use waste-reducing practices
Waste minimization doesn’t have to be boring or expensive for your brand and your partners. Think of smart ways to create a win-win scenario where environmental protection could potentially profit your small business.
We like to refer to the example of one of our sellers who produces soy candles and has recently introduced an ecological offer. Their candles are sold from recycled glass; Once the candle has burned out, the buyer can return the empty candle “holder” and claim a discount on their next purchase. In this manner, our retailer reduces waste and creates an incentive for its customers to return.
5. Adjust production to demand
One of the principal the reason why corporations almost by default cannot operate sustainably is that they most frequently prioritize higher production. The reason is the inability of huge factories to reduce production without incurring losses. Local brands have an extremely powerful advantage in this respect because they’ll tailor their production to actual customer demand.
In an age of overconsumption, it’s refreshing (and definitely environmentally friendly) to be a brand that encourages customers to shop according to their needs and abilities, moderately than going overboard. Therefore, it is vital to keep track of the initiatives that your company supports: a poorly chosen campaign or collaboration could cause a discrepancy between the mission you broadcast and your actions.
6. Support a culture of sustainability
Practicing mindfulness and living your sustainability values stays crucial. Reinforce your culture from inside: Consider encouraging your team to make eco-conscious purchases and rewarding eco-friendly habits. Also think about the greater picture – look for ways to provide your employees with mental health support and be certain that their human rights and freedoms are respected.
In summary, a sustainable business strives for a waste-free production cycle, works with suppliers that share its environmental agenda and commits to providing transparent information at every stage of the process.