Seeing green: the rise of ecofriendly online shopping
International Luxury Group (ILG of Switzerland AG)
Consumers want to align themselves with companies that are compatible with their eco-friendly values. With information available on our fingertips about the environmental practices of companies and products, buyers want to know more about the brand’s eco-conscious values.
A critical enabler of this movement is e-commerce because it provides accessibility, transparency, and innovative solutions for eco-conscious consumers.?There has been a surge in online marketplaces dedicated to sustainable products, with these platforms curating and promoting ‘green’ brands, making it easier for consumers to find and purchase them.
A good example is EcoCart, an app which partners with retailers to power a carbon-neutral and climate positive buying experience. It calculates the carbon footprint of products, giving shoppers the opportunity to offset the emissions at checkout through brand-sponsored sustainability projects.
The company says the percentage of consumers that choose to make their purchase carbon neutral at checkout has grown from 4% at the start of the company’s launch to 28% today, with some brands and their customers going beyond carbon offsets and increasing contributions for climate positive impact.
These kinds of platforms are being boosted by blockchain technology, which has emerged as a powerful tool for enhancing sustainable e-commerce. It allows for secure and transparent tracking of products from their source to the consumer. Blockchain also helps reduce fraud and ensure that companies are held accountable for their sustainability claims.
The circular economy concept is also becoming increasingly relevant in the e-commerce space. This model emphasizes the importance of reusing, recycling, and refurbishing products to extend their lifecycle. Many e-commerce platforms now offer services like product repairs and reselling used merchandise, promoting a more sustainable approach to consumerism. This reduces waste and provides consumers with a cost-effective way to shop sustainably.
This growing eco-consciousness is a serious bottom line issue that brands simply cannot afford to ignore – especially with statistics such as one recently published by Deloitte, showing that consumer purchases of carbon offsets are set to grow into a whopping US$100 billion market in developed economies by 2030.