1 item tagged "mega trends"

  • The Latest Insights From Sustainability Related Market Research

    The Latest Insights From Sustainability Related Market Research

    Environmental sustainability is a major trend impacting a broad range of industries, and many different market research publishers have released new reports covering this topic from every angle.

    Here’s a look at key insights revealed in the latest sustainability market research.

    COVID-19 Ignited a Stronger Conviction Towards Sustainability

    “While some challenges may exist regarding the relevance of sustainability in a world which appears to have been turned on its end, many of the latest findings provide evidence that sustainable ideals and attitudes have taken on a higher level of acceleration and importance in consumers’ mindset. In addition, there appears to be evidence that the COVID-19 pandemic may have ignited a stronger conviction towards environmental protection and sustainable behaviors as the fragility and interconnectedness of the human and planetary condition has been made more apparent than ever.”

    — 2022 State of Sustainability in America, 20th Annual Consumer Insights & Trends Report

    Major Corporations Demand Bolder Climate Action

    “In June this year, 70 CEOS of companies including H&M, IKEA, Unilever and Nestlé, and investors worth USD41 trillion, signed a letter demanding bolder climate action, which according to the Global Commission on the Economy and Climate could deliver at least USD26 trillion through 2030 compared with if no action was taken. With increasing pressure to disclose and minimise their impact on the climate, businesses across all industries are embracing low-carbon strategies to reduce their emissions.”

    — From Sustainability to Purpose: Climate Action

    Greater Transparency Creates Opportunities for Differentiation

    "Because consumers expect businesses to operate with people and planet in mind, they expect companies to be transparent related to the impacts of their businesses. To earn loyalty, retailers need to operate ethically and with transparency, pulling back the curtain to allow the consumer to see how the sausage is made. It requires work to provide that visibility, but it unlocks a treasure chest of new opportunity that creates competitive advantage through differentiation. Consumers will pay for products and services that are produced sustainably. They will pay to connect with the brands and people involved in creating and producing their products."

    — Retail Strategies for Sustainability Through the Lens of Product Development and Life-Cycle Management

    Real Challenges Remain for the Logistics and Supply Chain Industry

    “The logistics industry will need root-and-branch transformation over the next ten years if climate change targets are to be met. Almost two fifths of logistics industry professionals believe that net-zero goals are unachievable. Compliance is the main motivating factor for environmental initiatives. There are currently no existing alternative fuels that can rival diesel engines.”

    — Logistics & Supply Chain Sustainability Report 2021

    Insurance Industry Faces Mounting Hurdles Amid Climate Change

    “Climate change action is now an essential part of an insurer’s overall strategy. Initially it may have been viewed as good PR, but the ever-increasing nature of severe weather events around the world highlights how important making changes is to the insurance industry. Climate change is particularly damaging for the insurance industry as it leads to more claims and can make large areas of land uninsurable. While combating climate change is the long-term goal across all industries, the immediate threat is from the increasingly severe and common weather events occurring all around the world — costing insurers billions of dollars in claims.”

    — Climate Change and Its Impact on the Insurance Market – Thematic Research

    Author: Sarah Schmidt

    Source: Market Research Blog

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