Creating Value from Sustainable Products: Insights from Deloitte Canada

Deloitte Canada releases a new consumer sustainability report. Its report shows that business purpose and trust build loyalty in a market that values sustainability.

Growing Consumer Demand for Green Products

After the pandemic and rising inflation, many Canadians choose green products. Sixty-two percent say they will pay 20% more for goods made sustainably. Consumers favor brands that show true care for nature. They reward firms that share clear environmental values.

Consumer Confusion & Skepticism Over Sustainability Claims

Many consumers feel lost in a sea of green labels. They see too many claims and cannot tell the truth. Key points are:

• Forty-nine percent doubt if the claims are true.
• Twenty-three percent feel frustrated by trying to tell real efforts from greenwashing.
• Forty-six percent will not pay extra when claims confuse them.
• Forty-one percent of business leaders worry about being called greenwashers.

This gap calls for clear, honest words and verified facts to rebuild trust.

The Real Cost of Sustainability

Sustainable products cost more at first. They also need extra work to measure real benefits to society and nature. Nearly two out of three Canadian firms say that green efforts raise costs. They must adjust money use and operations to make lasting change.

Purpose-Driven Product Development

A clear purpose makes a strong product. Consumers want items with honest stories and clear benefits. Firms now must:
• Match green goals with their core values.
• Inspire new ideas that help both people and the planet.
• Do more than follow rules by leading with true purpose.

An All-Inclusive Enterprise Approach

Making sustainable products is a team task. Each firm part—from supply chains to design and marketing—must work together. This method keeps the green promise strong, clear, and fair.

Building Consumer Trust Through Authenticity

Trust is the base of a sustainable brand. The report says that brands must:
• Share true stories without exaggerating claims.
• Use open practices like third-party checks and clear labels.
• Write honest stories that show real change.

These steps help repair trust and build long-term loyalty.

Conclusion: Navigating the Path Forward

Canadian brands and retailers must learn to listen to green buyers. They need to be honest, find new ideas, and speak clearly about their work. Proving real benefits helps brands stand out and forge a green future.

Source: Deloitte Canada, “Creating Value from Sustainable Products” (January 2024)

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