Creating Value from Sustainable Products: Insights from Deloitte Canada

Sustainability drives business today. Deloitte Canada released its consumer sustainability report in January 2024. Canadian retailers must offer sustainable products to win trust. The report shows that conscious buying shapes brand strength.

Consumer Demand for Sustainability

Economic strain and post-pandemic costs do not stop the desire for green choices. Canadian consumers want sustainability even when budgets are tight:

• 62% of Canadians will pay a premium for goods that are sustainably made.
• Consumers favor brands that show real sustainability, even when money is tight.

The Challenge of Authenticity: Confusion and Skepticism

The rise of many green claims causes doubt and worry. Consumers do not see clear links between words and actions:

• Nearly 49% of consumers doubt green claims.
• 23% feel lost when they try to separate real efforts from greenwashing.
• Because of this, 46% refuse to pay extra for products that claim to be eco-friendly.
• In business, 41% of leaders worry that their sustainability actions may be seen as greenwashing.

These gaps between what brands claim and what consumers see risk trust.

The True Cost of Sustainability

Launching eco-friendly products costs more and shows few short-term gains:

• Almost two out of three Canadian companies face higher costs in sustainable product development.
• It is hard to link costs directly to environmental gains.

Purpose-Driven Products: The Path Forward

Sustainability must come from the heart of a company. It must tie into every decision:

• Product ideas should match clear company values.
• Companies must meet social and environmental goals with every choice.
• A company-wide plan builds trust and shows consistency.

Building Consumer Trust with Transparency

Trust grows from clear, honest links between claims and results:

• Companies should share their true goals and progress.
• Clear, fact-based steps can prove that sustainability claims hold up.
• Educating consumers helps them choose wisely in a busy market.

Conclusion

Deloitte Canada shows that real sustainable products need a clear company purpose:

• Genuine ideas lead to smart innovation.
• Honest talk closes the gap between what brands say and what consumers see.
• Smart investment can balance costs and show true impact.

By following these clear steps, retailers can win loyalty in a market that cares about the planet.

For a full read, download Deloitte Canada’s "Creating Value from Sustainable Products" report [PDF, 8MB].

Source: Deloitte Canada Consumer Sustainability Report, January 2024

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.