Volume 3 Issue 2
The promotion of sustainability is everywhere, starting with its long-term benefits and how it will preserve the one and only, habitable planet in which we live in. However, rarely do people explain what it truly means to have sustainability integrated into your business and how to achieve success through sustainability.
Integrating into a sustainable business
Businesses integrating sustainability are businesses who not only produce products that take extra steps to ensure low carbon-emissions or take precautions for environmental concerns. However, they are also businesses who support these environmentally conscious producers by purchasing their products and selling to customers. These businesses use the advantage of sustainability as a marketing approach and marketing differentiator. How? The harsh reality is, customers are not solely loyal to brand names, but they are loyal to brands that care for them and the future (Forbes, 2020). This is all shown through their awareness programs and business production.
Understanding the Market
What many are unaware of is the market that is readily available for the taking, the global green technology and sustainability market. This market size that is brushed away is valued at a total of USD13.28 billion in 2021, with the expectations of reaching an exponential annual growth rate of 22.4% in 9 years (Grand View Research, 2021). This global green technology is adopted by Lexngo with the guarantee of not only its durable quality and safe production, but the value of money for your consumers.
Environmental impacts are now brought to the attention of customers, making them one and the same, as shown in a study with Accenture. There are 89% of customers out there who are conscious as to the quality of the product. Business News Daily has shown that there is a major shift in the market of consumers being extremely willing to pay extra to purchase and support environmentally sustainable products. With global movements and social media, this has been an issue that many have come together, supporting environmentally sustainable companies. What is a few extra dollars for a long-term investment of being part of saving the world.
How to achieve success through sustainability
The globally recognized furniture maker, IKEA, sources almost half of its wood from sustainable forest, whilst keeping water pollution and chemical usage at a minimum to ensure ethical practices. IKEA even has their environmentally sustainably stamps in all stores, providing customers the ease of shopping without stress. Additionally, they began to include the designs of smarter products with renewable or recycled materials, further bringing operating costs down (IKEA, 2023). Unilever, the biggest multinational in the world and award winner of the Champion of the Earth Award in 2015, has also focused their efforts on sustainability. This is through their Sustainable Living Plan, targeted to ensure their business operations are in the direction of sustainability. Unilever’s share price has skyrocketed up to two times since 2015 after being globally recognized for its efforts.
You might be thinking, the reason these businesses are able to participate in sustainable practices is due to their size and capabilities of investing in advanced technology. You might be right, which is why, with Lexngo, the planning and research required to reduce waste and costs are already performed, readily producing eco-friendly home products. As mentioned in the analysis of the market, customers want to see that stores are ready to further support and sell their preferred items of sustainable products, from food storage to bags. With customers shouting their demands, it is our job to give them what they want.
Lexngo is suitable world-wide for your business because of the extra market that it helps you reach. Their products reach people of all age groups, from children to working adults. Lexngo’s technology uses their distinct properties of silicone food grade products, through their incorporation of minimalist design, most appropriate for everyone’s daily lifestyle, no matter where you are. With their products spanning from non-scratch cooking tools, flexi cups and even silicone collapsible meal boxes, your participation in purchasing Lexngo items will make consumers more at ease when purchasing. This is the same as IKEA, customers prefer to shop stress-free, knowing that their purchase is benefitting not only themselves but the future generation, once again, reaching a whole new market you might not have imagined you could achieve.
References:
https://www.grandviewresearch.com/industry-analysis/green-technology-sustainability-market-report
https://www.forbes.com/sites/danielnewman/2020/07/24/how-leading-global-companies-are-using-sustainability-as-a-market-differentiator
https://www.businessnewsdaily.com/15087-consumers-want-sustainable-products.html
https://www.ikea.com/au/en/this-is-ikea/sustainable-everyday/
https://thewaternetwork.com/post-FfV/unilever-ceo-to-receive-un-champion-of-the-earth-award-1-ac_QBTldX5OlKNPh7BmkgQ
Comments