Nupo Ventures’ Post

Starting 2024 with an interview from Emily Cromwell on sustainable consumerism. Considering the barriers consumers face in adopting a more sustainable lifestyle, businesses will need to prioritise affordability, transparency and trust in order to help change behaviours in the long term.   Sustainability Magazine Emily Cromwell

Consumers are driving enterprises to examine how they can incorporate sustainability. At RyeStrategy, we work with businesses to create decarbonization plans and carry out corporate sustainability initiatives. NYU Center for Sustainable Business (CSB) has found that sustainably-marketed product growth speed is 2x other products. Data shows that Americans want to purchase sustainable products. CSB and Circana aimed to asses if individuals were actually purchasing sustainable products they planned to buy. The results proved that a “green gap” did not exist, in fact consumers were driving positive sustainable market share. Consumers are following through on their sustainability commitments which is why businesses need to. #Sustainability #ConsumerTrends #Business https://lnkd.in/gmKXPqWV

ESG Report: Douglas updates sustainability strategy with ambitious goals   Today, we have released our updated DOUGLAS Group sustainability strategy and report: As Europe’s number one omnichannel premium beauty destination, we also want to be a leading beauty retailer in sustainability – in our three focus areas People, Planet and Products. We have signed the UN Global Compact, a United Nations pact to get businesses worldwide to adopt sustainable and socially responsible policies. We are also driving sustainability with collaboration in our industry: DOUGLAS has achieved a central milestone by joining the EcoBeautyScore Consortium, an initiative of the cosmetics industry consisting of manufacturers, retailers, and associations, to enable consumers to make more informed and sustainable choices. What have we achieved so far? + DOUGLAS aims to create a workplace that champions diversity, equity, and inclusion, and actively drives these by setting clear priorities to increase representation. 89% of management positions in the DOUGLAS Group are held by women, with 97% in stores and 60% in offices (as of September 30, 2023). At the same time, people from 104 nations work for DOUGLAS. In addition, further initiatives have been taken to attract, develop, and retain talent, including leadership programs, a new e-learning platform, and a mentoring program. + DOUGLAS is committed to reducing its environmental footprint. From minimizing energy consumption in the stores and offices to cutting waste and carbon emissions across the supply chain. The combined Scope 1 and 2 emissions were already reduced in the financial year 2022/23 by 32%, versus the baseline financial year 2018/19. DOUGLAS intends to assess its climate ambitions in accordance with Science-Based Targets (SBTs), then also including a Scope 3 reduction target. + DOUGLAS is committed for 80% of its Corporate Brands to be vegan by 2030 and for 100% of their packaging to be recyclable, recycled, or reusable. 94% of all new Corporate Brand launches in the financial year 2022/23 were vegan, nearly 30% of DOUGLAS’s new Corporate Brand launches in the financial year 2022/23 contained at least 90% ingredients from a natural origin (as of September 30, 2023). Sustainability at DOUGLAS remains a journey. A journey that requires constant transformation. With a long-term perspective, we have set ourselves ambitious goals to reduce our carbon footprint and promote sustainable practices even more. I am excited about the progress that our #TeamDOUGLAS has achieved so far. With a clear direction in place, we’re looking forward to updating you on our further progress. Click here for the full report: https://lnkd.in/e9_pYgJa #LetItBloom #ESG #TeamDOUGLAS

Despite the growing focus on sustainability, there remains a notable discrepancy between consumers and retail executives regarding their willingness to pay for sustainable products. According to research by First Insight, an impressive 66% of consumers express a willingness to pay for sustainability, while strikingly, 66% of retail executives hold a different perspective. To bridge this gap, it becomes crucial to delve into the value of sustainability in influencing consumer behaviour. This calls for the industry to reflect and ask a pertinent question: Are we effectively communicating the benefits of sustainable products? This article aims to dissect these advantages into three categories: functional, emotional, and social. #SustainableBrands #ConsumerAwareness #SustainabilityBenefits

Even during the current cost of living crisis, research has shown two-thirds of UK consumers are willing to pay more for goods proven to be sustainable. It's clear that sustainability is a key performance driver with people choosing brands that take action to drive positive change.  https://lnkd.in/dNwqCTtV #Costofliving #sustainability

𝗗𝗢𝗨𝗚𝗟𝗔𝗦 𝗚𝗿𝗼𝘂𝗽 𝗽𝗿𝗲𝘀𝗲𝗻𝘁𝘀 𝗶𝘁𝘀 𝘂𝗽𝗱𝗮𝘁𝗲𝗱 𝘀𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝘀𝘁𝗿𝗮𝘁𝗲𝗴𝘆 𝘄𝗶𝘁𝗵 𝗺𝗼𝗿𝗲 𝗮𝗺𝗯𝗶𝘁𝗶𝗼𝘂𝘀 𝗴𝗼𝗮𝗹𝘀 We have just published our sustainability report for the financial year 2022/23 including an updated, more ambitious sustainability strategy based on the three focus areas: People, Planet and Products. As Europe’s number one omnichannel destination for premium beauty, we have a responsibility to contribute to the global agenda of sustainable transformation. This is why we have signed and dedicated ourselves to the UN Global Compact, a United Nations pact to get businesses worldwide to adopt sustainability and social responsibility policies. Furthermore, we have joined the EcoBeautyScore Consortium, which aims to develop an environmental impact assessment and scoring system for cosmetic products to serve the growing expectations for transparency and sustainability from consumers and regulators.   The main components of our three focus areas are: 𝗣𝗲𝗼𝗽𝗹𝗲: We aim to create a workplace that champions diversity, equity, and inclusion, and actively drives these by setting clear priorities to increase representation. 89% of management positions in the DOUGLAS Group are held by women, with 97% in stores and 60% in offices (as of September 30, 2023). 𝗣𝗹𝗮𝗻𝗲𝘁: We target to reduce our carbon footprint by 50% by 2025 (compared with the baseline financial year 2018/19). The combined Scopes 1 and 2 emissions were reduced in the financial year 2022/23 by 32%, versus the baseline financial year 2018/19. 𝗣𝗿𝗼𝗱𝘂𝗰𝘁𝘀: We are committed for 80% of our Corporate Brands to be vegan by 2030 and for 100% of their packaging to be recyclable, recycled, or reusable. We have already made significant progress towards these goals, with 94% of Corporate Brands new product launches in the financial year 2022/23 being vegan.   𝗗𝗲𝗮𝗿 #𝗧𝗲𝗮𝗺𝗗𝗢𝗨𝗚𝗟𝗔𝗦, 𝘄𝗲 𝗵𝗮𝘃𝗲 𝗮𝗹𝗿𝗲𝗮𝗱𝘆 𝗮𝗰𝗵𝗶𝗲𝘃𝗲𝗱 𝗮 𝗹𝗼𝘁. 𝗟𝗲𝘁’𝘀 𝗰𝗼𝗻𝘁𝗶𝗻𝘂𝗲 𝘁𝗵𝗶𝘀 𝗷𝗼𝘂𝗿𝗻𝗲𝘆 𝗮𝗻𝗱 𝗸𝗲𝗲𝗽 𝗽𝘂𝘀𝗵𝗶𝗻𝗴 𝗳𝗼𝗿 𝗺𝗼𝗿𝗲 #sustainability! You can find the ESG report and more information on our sustainability strategy here: https://lnkd.in/daA6e5Qm #ESG #LetItBloom #MakeLifeMoreBeautiful

Deloitte's latest report on consumer behaviour and sustainability has some interesting insights. Consumers are adopting more mindful habits, such as reducing their purchases, consuming less meat, and embracing the idea of repair and reuse. Although the rise in the cost of living is probably also a factor. Clearly, affordability is a critical factor in encouraging consumers to choose sustainable options. But simpler choices also play a vital role in supporting sustainable behaviours. Consumers want to find easier ways to engage in sustainability, from effective plastic and packaging removal schemes to clearer recycling guidelines for old products. Providing them with straightforward information and clearer options to help make sustainable choices could be pivotal for businesses. Another significant barrier looms large - trust. Nearly 50% of consumers are either unsure about the commitments businesses have made in terms of sustainability or do not trust them altogether when it comes to climate change and sustainability issues. It’s clear when it comes to sustainability, businesses are going to have to do the hard work to show consumers they are committed throughout their value chain, and that includes their digital products and services. https://lnkd.in/eegA2hqG

Sustainability is becoming more than just a buzz word to consumers. Yet, solving consumers' main functional problem is still most important. 🌍 Consumers’ sustainability demands are rising. ↗↗ (https://lnkd.in/gWxW_NRw). More companies are actively building sustainability plays into their products. 🌿 During Earth Month we highlighted 3️⃣ product sustainability case stories. Check out our full blog post on sustainably focused products in Food & Beverage, #CPG, and Financial Services. Companies like v2food, Procter & Gamble, and Treecard are fueling the emotion of sustainability into their products. Yet, they are staying focused on the main job: build usable products that make life easier and better for their customers. 🛠 💡 📲 https://lnkd.in/e9_raPEk -------------- #esg #sustainability #innovation #esg2024 #financialservices #foodandbeverage

🌿 Exploring Sustainable Consumer Choices: Key Takeaways from Deloitte's Report 🌿 In today's world, conscious consumerism isn't just a trend; it's a powerful force for change. Deloitte's latest report on sustainable consumer choices underscores this transformational shift. Here are some key insights: Empowered Consumers: More than ever, consumers are informed and empowered to make sustainable choices. They're demanding transparency, ethical practices, and eco-friendly options from businesses. Circular Economy: The report highlights the growing preference for circular economy principles. Reuse, recycling, and reducing waste are becoming paramount in purchasing decisions. Technology as an Enabler: Technology is a game-changer, allowing consumers to access information about a product's environmental and social impact instantly. Smart brands are leveraging this to communicate their sustainability efforts. Responsible Business Practices: Sustainable consumerism isn't just about products; it's about supporting businesses that align with personal values. Companies need to integrate ethical practices throughout their operations. Impact on Brand Loyalty: Brands that prioritize sustainability are earning trust and loyalty. They are not just selling products but also a vision for a better, more sustainable world. Collective Action: Individual choices matter, but collective action is even more potent. Consumers are joining forces with like-minded communities to drive larger sustainability initiatives. This report reaffirms that sustainability is no longer an option; it's an imperative for businesses. Embracing eco-friendly practices, supporting ethical brands, and participating in the sustainable consumer movement are steps towards a brighter, greener future. For more details, dive into the full report: https://lnkd.in/eS_qqM9t Let's keep the conversation going on how we can collectively shape a more sustainable world. 💚🌍 #Sustainability #ConsumerChoices #DeloitteReport #SustainableConsumption #EthicalBusiness #CircularEconomy

What Do Consumers Want When it Comes to Sustainability? In a recent survey of 23,000 global consumers by global management consultancy Bain & Company, over 64% of consumers reported high levels of concern about sustainability, with the highest levels (79%) being reported in fast-growing markets like China, Indonesia and India compared to 55% in markets such as the US and Europe. In the UK, consumers indicated they would be willing to pay up to 8% more for sustainable products, however in almost half of all 'developed-markets' consumers believe that living sustainably is too expensive - you can read the full report here: https://lnkd.in/eRBBe9SN