In an era where environmental consciousness is at the forefront of consumer hearts and minds, the rise of sustainable spending is not just a trend but a pivotal shift in consumer behaviour.
And it’s not just hearsay. Research shows that in Australia there has been a surge in interest in sustainable goods, with consumers becoming the driving force behind a heightened focus on Environmental, Social, and Governance (ESG) business practices.
In a survey spanning Australia and the Asia Pacific region, a staggering 78 percent respondents expressed a willingness to pay a premium for sustainable products. This serves as a testament to the growing awareness and importance individuals place on the environmental and ethical footprint of the products they purchase. This confirms that customers are no longer just spectators; they are active participants demanding accountability and transparency from businesses that they transact with.
As one of the newfound businesses at the forefront of this sustainable revolution, we have chosen not only to embrace the sustainability shift, but thrive in it, offering our customers an opportunity to not only do good by planet, but also secure a cost-efficient alternative to their everyday household goods: two pain points that ring all to true in a cost of living crisis.
But, it hasn’t been all smooth sailing for us, particularly as we emerge as not only new market entrants and create a whole new sub category of household cleaning products for consumers to embrace.
The sad truth is, when it comes to sustainability, there is a common misconception of compromise on quality or price. It’s for this reason we set out to defy such stereotypes, educating our customers on the benefits of choosing better by planet and wallet.
We designed our zero waste, biodegradable detergent sheets to deliver uncompromised cleaning power, maintaining the highest standards of quality, while being zero waste and completely biodegradable. Our zero compromise strategy not only caters to the conscious consumers needs, but challenges the preconceived notions that sustainable products are synonymous with sacrifice.
While this approach could have been deemed risky at the outset, our success story offers invaluable lessons for retailers aspiring to make a mark in the sustainable retail landscape. Perhaps most importantly, it underscores the need for a genuine commitment to sustainability, rather than a mere marketing ploy. Consumers are discerning and can distinguish between greenwashing and authentic eco-conscious practices.
Second to this is commitment to product innovation. There are thousands of everyday products which could be transformed to become more sustainable, they just need the attention and investment to do so. We created a product that not only meets, but exceeds consumer expectations and demonstrates that sustainable alternatives can outperform their conventional counterparts.
But, imagine if you had an existing captive customer base, which you could extend your product line with? While our business didn’t have this luxury, there are thousands, if not millions of established retailers that do, creating an accessible platform to launch a new sustainable product with.
Our 5900 percent growth over the past year is not just living proof to the growing popularity of sustainable products, but a beacon signalling a fundamental shift in Australian consumption preferences. It’s also an acknowledgment that sustainability is not just a checkbox but a core value that resonates with everyday customers.
Consumer demands for sustainable retail serve as a reminder that businesses have a responsibility beyond profit margins and shareholder returns, and that aligning business practices with ethical and environmental considerations is not just a moral imperative; it’s a strategic advantage.
Roger and Brodie Cook are co-founders of Lucent Globe.