Consumers are beginning to feel the pressure of their consumptive lifestyles.
Due to increased frustration, the desire to live more sustainably has grown. However, consumers don’t always know how to make eco-friendly choices.
The term, “eco-anxiety,” refers to the growing fear of climate change and the helplessness felt by consumers. Eco-anxiety is largely felt by younger generations (Millennials and Generation Z), who are aware of their impact on the environment, but are mindful of what their future world will become if current consumption levels remain stagnate.
In a 2019 study by NYU Stern School of Business, 81% of consumers cite a lack of availability to sustainable products. This presents a significant barrier to consumer product purchases and brand loyalty.
Users desire products that are more durable for longer periods of time. Additionally, they want products with easy care maintenance. Consumers challenge brands and retailers to manufacture products responsibly.
Brands and retailers need to gain back the trust of their customers, who are more critical than ever of product offerings in stores. In other words, educating buyers of how products are made and what they’re made of will influence social minded shoppers to support merchandise offerings. Consumer mindsets will change once they are more confident in their purchase decisions.
In conclusion, this raises an important question:
Are product developers ready to rise to the occasion to meet the demands made by consumers, who are ready to lead the change towards a more sustainable future?
Sources:
NYU Stern School of Business. (2019). Retrieved from https://www.stern.nyu.edu/
Warren, L. (2020, February 16). How Macro Trends in Wellness and Inclusivity Will Shape Fashion Through 2022. Retrieved from https://sourcingjournal.com/denim/denim-trends/fashion-snoops-trends-2022-sustainability-tech-humanity-wellness-192855/