Creating Value from Sustainable Products: Insights from Deloitte Canada

Deloitte Canada released its first consumer sustainability report on January 22, 2024. The report uses surveys where business leaders and consumers share views. It shows trends that help brands succeed in a green market. In this text, each word links closely to the one next to it.

Rising Consumer Demand for Sustainable Products

Canadian consumers now make choices that favor green goods even in hard economic times. They face inflation and a slow recovery after the pandemic. Yet 62% of Canadians will pay 20% more for items made sustainably. This choice boosts markets for brands that promise genuine sustainability.

The Challenge of Information Clarity and Greenwashing

Consumers often get confused by many green claims. The report finds that businesses and buyers do not always agree on product sustainability. Almost half of the consumers doubt the truth behind these claims. This doubt shows the risks of greenwashing, where claims may be false or misleading.

The Cost and Complexity of Sustainable Product Launches

While green efforts attract buyers, creating sustainable products costs more. It can also be hard to measure true benefits. Brands must invest smartly and check results. This way, they make sure these products stay strong over time.

Purpose-Driven Products as a Differentiator

Successful products start with a clear, shared goal. A purpose ties business actions to strong social or environmental values. This clear mission builds bonds with consumers. It also makes brands stand out, not just by features or labels.

Embracing an All-Inclusive, Enterprise-Wide Strategy

Genuine sustainability touches every part of a company: supply chains, production, marketing, and customer care. Deloitte urges companies to work as one whole group. This linked approach stops broken efforts and builds lasting brand strength.

Building Consumer Trust Through Authenticity and Transparency

Trust grows from honest, clear words and actions. Companies gain it by sharing real data and using proven green practices. True stories not only ease doubt but also keep consumers coming back.

Conclusion

Deloitte Canada’s research shows that the future of sustainable products is built on clear purpose, open honesty, and full team effort. Brands that work hard on these points create true value, meet high consumer hopes, and help the fight against climate change and social challenges.

For detailed insights and practical guidance, download the full Deloitte Canada report here (PDF, 8MB).

This summary is based on Deloitte Canada's "Creating Value from Sustainable Products" report, January 22, 2024.

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