Why Sustainability is the New Currency for Successful Brands
Yes, living a sustainable lifestyle is a kind and responsible choice. But most people relate it with non-profitable living or businesses. You can walk up to a group of people and ask what they think about sustainability and profit. Millennials will say, not possible because moral or ethical choices have no place in profit-making. But GenZs will answer the exact opposite because, according to them, brands who support sustainability are making more profit, and let us break it to you that they are 100% right about it.?
Why is This Sudden and Powerful Shift to Sustainability?
Because the user base or the customer base is more informed, spontaneous, and wise about their choices. Nowadays online shoppers or customers in general don’t hop onto cheaper options. They are ready to spend more money if the product and the brand initiatives are towards creating a sustainable living. Genzs started this and now millennials are also with them.?
The second reason behind that sudden shift is government or legal pressure and obvious marketing. The Indian government and the respective regulatory bodies have become stricter about sustainable business choices and not following them can cost more. Moreover, Indian law does give tax relaxation to such initiatives. Therefore, this whole concept of walking on a greener path has become a USP for brands.?
Indian Brands and Their Way of Walking on a Greener Path
Most brands in India are shifting to sustainability. Some started with this green planet goal only and some started like a normal brand that contributed to pollution but later they have been very mindful about their choices that can damage the environment.?
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Brands based on Sustainable choices:
Old Brands Shifting Towards Green Business Model:
See, some of you might not know the first brands as they are pretty new and they were built on the idea of sustainable skincare, clothing, and more. But the later ones we all know. Don’t feel shocked to see Tata in the second type. Tata is a very old company, back then nobody thought that businesses and enterprises could cause this much harm to the environment. But at least they thought about it.
Moreover, reports say that older brands have seen a significant boost in their sales after their green initiatives. Take Myntra for example, they have found that 62% of women shop from their Myntra Earth section, which is dedicated to products coming from environmentally good and ethical sources.
So, in the end, it won’t be wrong to say that, walking on a greener path is not a trend but a new business model that not only creates a good brand image but also leads to a loyal customer base which again leads to longer years of successful business.?
What is sustainable operations? https://youtu.be/kI72w4t0z7I