On November 21, 2024, Chapter Zero Brussels had the privilege to be hosted by Bain & Company. Magali Deryckere, Partner on Sustainability provided an in-depth analysis of sustainable consumer behavior. Her presentation shed light on the complexities of how consumers perceive and act upon sustainability, offering valuable insights for businesses aiming to align with evolving consumer expectations.
Understanding the "Say-Do" Gap
A central theme of the discussion was the "say-do" gap—the discrepancy between consumers' expressed intentions to live sustainably and their actual purchasing behaviors. This gap presents a significant challenge for companies striving to meet consumer demands for sustainability.
Key Findings from Bain & Company's 2024 Sustainability Survey
Bain & Company's recent survey, encompassing nearly 19,000 consumers globally, reveals several critical insights:
Rising Environmental Concerns: Approximately 60% of consumers report increased concerns about climate change over the past two years, often influenced by personal experiences with extreme weather events.
Desire for Sustainable Living: Many consumers express a strong desire to live sustainably and believe their individual actions can make a difference. However, they often struggle to identify sustainable products and practices, indicating a need for clearer guidance from brands and retailers.
Packaging and Recyclability: Packaging and recyclability have surfaced as key concerns for consumers, highlighting areas where companies can make impactful changes.
Implications for Businesses
These findings underscore the importance for companies to:
Bridge the "Say-Do" Gap: By understanding the factors contributing to the gap between consumer intentions and actions, businesses can develop strategies to encourage sustainable purchasing behaviors.
Enhance Transparency and Education: Providing clear information about product sustainability can empower consumers to make informed choices.
Align Offerings with Consumer Values: Developing products and services that resonate with consumers' sustainability concerns can foster loyalty and drive growth.
Magali Deryckere's presentation completed by case examples from Jelle Dhaen and Laurent Migom, Partners at Bain, offered a comprehensive overview of these dynamics, prompting attendees to reflect on how businesses can effectively respond to the evolving landscape of consumer sustainability expectations.
For a more detailed exploration of these insights, Bain & Company's "The Visionary CEO’s Guide to Sustainability" provides an extensive analysis of current trends and strategies.
As businesses navigate the complexities of sustainable consumer behavior, such insights are invaluable in shaping strategies that not only meet consumer demands but also contribute to broader environmental goals.
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