Creating Value from Sustainable Products: Key Insights from Deloitte Canada
Sustainability claims grow fast. Canadian consumers face new tasks in conscious buying. Business leaders see bright chances. Deloitte Canada’s first report (January 2024) shows how value and trust grow when products are truly sustainable.
Demand for Green: Consumer Willingness to Pay More
Consumers lean toward green options even in tough times. They support brands that act for the environment. The report shows:
• 62% of Canadians pay a premium of 20% or more for clearly sustainable products.
• Shoppers cut down on extra spending but give more to brands that fit their green values.
This close tie of ideas tells brands to embed sustainability in real ways.
The Need for Clear, Authentic Information
Consumers see many claims and feel confused by them. They start to doubt what they hear:
• 49% of consumers find sustainability claims unconvincing.
• 23% get frustrated when true efforts mix with greenwashing.
• 46% skip paying extra when claims seem unclear or false.
• Likewise, 41% of business leaders worry that greenwashing may hurt their name.
Each word here connects: clear, simple truth matters in green messaging.
The True Cost of Sustainability Efforts
Hard work on sustainable products has its costs. Nearly two out of three Canadian companies note:
• Higher production costs when using sustainable methods.
• Hard times in showing and measuring real impact.
Understanding and dealing with these costs helps build trust and long‐term value.
Purpose-Driven Products and an All-Inclusive Approach
Success in green work needs a steady aim. Companies do this when they:
• Start with a clear business purpose focused on sustainability.
• Use a whole-of-enterprise method to link eco-friendly values in work, supply lines, marketing, and governance.
This close linking of purpose and action attracts loyal customers and stands out in a busy market.
Building Consumer Trust Through Authenticity and Transparency
Trust grows when companies share true facts. They must:
• Offer authentic messages that rest on verified actions.
• Share clear details about product claims and impact.
• Tell honest stories that match consumer views.
Each step connects tightly to build brand strength and real consumer trust.
Conclusion:
Canadian businesses must do more than claim they are green. They need to mix purpose, transparency, and clear messages into every step. In today’s mindful market, meeting consumer demand with real, honest practices is key to growth.
Reference:
Deloitte Canada. (2024, January 22). Creating value from sustainable products: How business purpose and brand trust can make the difference. [PDF Report, 8MB]
Available at Deloitte Canada website.
Design Delight Studio curates high-impact, authoritative insights into sustainable and organic product trends, helping conscious consumers and innovative brands stay ahead in a fast-evolving green economy.
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