People say they want sustainable products, but they don’t tend to buy them. Here’s how to change that. by Katherine White, David J. Hardisty and Rishad Habib
Lloyd Miller
Summary.
Companies that introduce sustainable offerings face a frustrating paradox: Most consumers report positive attitudes toward eco-friendly products and services, but they often seem unwilling to follow through with their wallets. The authors have been studying how to encourage sustainable consumption for several years, performing their own experiments and reviewing research in marketing, economics, and psychology.
The good news is that academics have learned much about how to align consumers’ behaviors with their stated preferences. Synthesizing these insights, the authors identify five approaches for companies to consider: use social influence, shape good habits, leverage the domino effect, talk to the heart or the brain, and favor experiences over ownership.
On the surface, there has seemingly never been a better time to launch a sustainable offering. Consumers—particularly Millennials—increasingly say they want brands that embrace purpose and sustainability. Indeed, one recent report revealed that certain categories of products with sustainability claims showed twice the growth of their traditional counterparts. Yet a frustrating paradox remains at the heart of green business: Few consumers who report positive attitudes toward eco-friendly products and services follow through with their wallets. In one recent survey 65% said they want to buy purpose-driven brands that advocate sustainability, yet only about 26% actually do so.
Read more on Consumer behavior or related topics Sustainable business practices and Marketing
A version of this article appeared in theJuly–August 2019issue of Harvard Business Review.
Read more on Consumer behavior or related topics Sustainable business practices and Marketing
