The COVID-19 pandemic has brought the sustainability agenda to the forefront of everyone’s minds. Organic and ethical products are moving away from being a ‘luxury’ and into the mainstream.
A global study by Accenture said consumers have “dramatically evolved” with 60% of consumers reporting making more environmentally friendly, sustainable, or ethical purchases since the start of the pandemic. It is expected that 90% of those that have made the change will continue buying more sustainable products. In the UK, the soil association (the body that certifies over 70% of all organic products nationally) reported that sales of organic food had hit a 10 year high hitting £2.6BN in sales by the end of 2020.
ESG investing has also been on the rise and in 2020 it accounted for about 25% of all the money that flowed into the US stock and bond mutual funds last year according to the Morningstar. ESG investments were at around 1% in 2014.
Demand from the consumer, pressure from government and investor momentum behind the ESG agenda all point towards ethical consumerism as table stakes for modern brands and it’s here to stay. This is good news for the planet but is it good news for brands looking to find their voice in this space? The agenda is huge and covers vast topics like carbon sequestration and biodiversity, health and wellbeing, waste and water scarcity. Where does a brand start, and how does a brand stay on top of changing attitudes and trends within sustainability?
In recent years, many big brands have turned to social data and prediction to spot consumer trends in food and drinks. What people share on their Instagram post, in their Twitter channels over forums and blogs are all clues pointing towards where consumer interests are leaning. By combining social data with quant & qual analysis from communities, experts, and investors, we will deliver a more holistic brand strategy that is sustainable and profitable.
Join us at the IFST https://www.ifst.org/events/1071/ifst-food-innovation-group-webinar-how-to-spot-trends-and-influence-people to find out more.