Is It Time for Companies to Consider Sustainable Packaging?
Sustainable packaging or even sustainable practices used to be a novel idea. Eco-friendly packaging wasn’t even on the majority for companies and businesses’ radar until this past few years. The issue of global warming and plastic waste has resulted in consumers becoming aware of the excess of product packaging.
As a result, major companies and businesses are now starting to offer recyclable and sustainably sourced packaging or packaging made from post-consumer materials. What was once a niche idea, now became standard practice for most brands or businesses.
While a lot of businesses and companies are still not fully on board with the idea of sustainable packaging, because of the financial cost. But there are certainly some important benefits, aside from the reduction in your own carbon footprint – to making the switch to more environmentally conscious consumption.
So what are some of the advantages when companies or businesses embrace more environmentally conscious or sustainable practices?
Increase Brand Awareness
A lot of people are now conscious shoppers and are fully aware of how human consumption affects the environment. In a study done by Unilever, a multinational consumer goods company, shoppers are more likely to purchase brands that practice sustainability. So this could be a chance for brands to step up their social and environmental efforts.
Help Increase Profit Margins
When a company does well in implementing sustainable practices, consumers will have the tendency to pay more. Sustainably conscious companies and businesses can even acquire more customers in the process. A survey was done by CGS, illustrates that sustainability is a driving force for increasing consumer demand and can even increase customer loyalty.
Reduce Transportation Cost
This may come as a shock, but embracing a more sustainable approach to packaging can greatly help reduce the financial cost for a business or a company. Reducing the materials used in the packaging can greatly help reduce a brand’s carbon footprint. For example, unnecessary packaging can help reduce fuel costs during transportation. This may not seem a lot, but it does add up quickly. The quickest way to start reducing the cost is working with your supply chain manager on how they can help your business reduce or streamline the process.
Just like how transportation costs can be reduced just by embracing a sustainable type of packaging, It can also help your business get more storage. The reduction of unnecessary packaging materials, especially in large quantities, allows for more efficient storage solutions. By eliminating a few packaging options, more storage options will available for products to be stored for longer periods of time.
Help Influence Government Policies
Just like how consumers can help influence companies to embrace a more sustainable practice. Consumers can also have the capacity to influence government policies that can lean towards more sustainable practices. The power consumers have can put pressure on government officials to submit to public demands through policies. An example would be the ban on the use of plastic packaging or implementing stricter laws against waste management.