70% of people in META see “Global climate change / global warming” as a very or extremely serious issue. This affects consumer spending in two ways:
- Needs-based purchases to combat climate effects: electric fans, air purifiers, air conditioners
- Values-based purchases that support products and brands that are eco-friendly.
Consumers’ expectations here are expanding. In order to be perceived as genuinely eco-friendly, manufacturers and retailers need to be able to point to everything from the suppliers they work with; to their products’ material, packaging, transportation, durability, recyclability; to their support of environmental or humanitarian causes.
This is a natural expansion of what we are already seeing at product level. In the EU5’s highly competitive smartphone, mobile and phablet market, two-thirds of sales revenue in January to June this year came from products that have 3 or more eco-claims. With a growth rate of +22%, these items are substantially out-performing the rest.