The World Bank showed that more than 50% of global GDP is driven by household consumer expenditure for both essential and discretionary goods. (https://data.worldbank.org/indicator/NE.CON.PETC.ZS). It follows therefore that consumer purchasing and disposal decisions have a significant impact on the global economy. Such decisions can impact the entire supply chain involved in creating consumer products.
Consumers increasingly prefer to purchase from brands espousing health benefits, environmental sustainability and social responsibility. As such, consumer product companies are seeking formulations with greater renewable content, including biobased, recyclable and biodegradable post-consumer content. Moreover, these brands are qualifying and monitoring their suppliers for fair trade and labor practices. Power companies and renewable energy companies recognize these trends.
Nielsen, a global market research agency, showed that on average 40% of North American and EU consumers are willing to pay the green premium for a product which makes more “socially responsible, earth-friendly and natural” claims. (http://www.nielsen.com/us/en/press-room/2014/global-consumers-are-willing-to-put-their-money-where-their-heart-is.html).
We understand the challenges that consumer product companies face when developing new products to meet the ever growing demands of the sustainability conscious consumer. In particular, our experts can provide guidance on product development with renewable materials and green chemistry.
Our approach to R&D is guided pragmatically by market opportunities anchored in growing market segments and a well-understood customer value hierarchy. This approach leads to profitable product positioning and successful market communications for a sustainable competitive advantage throughout the entire product life cycle.
At Lee Enterprises Consulting, we have a number of highly qualified experts available to assist you with any market driven applications in sustainable consumer product development or related matters. Feel free to call or email us for more information.