More than 80% of consumers think sustainable brands are more expensive than other brands.
This mindset could explain why businesses are wary of going green.
“We have a great product, which is hugely popular. If we make it sustainable, it will cost more to manufacture and then the retail price will be higher. We’ll loose our customers to the competition and be ruined”.
On the flip side, the vast majority of people are willing to purchase a sustainable product. However, 60% of customers will only consider purchasing if the cost is the equal to or less than other choices. Unfortunately, for many consumers the opportunity to save money far outweighs other benefits such as quality, or sustainability.
Are sustainable brands more expensive?
More often than not sustainable brands are more expensive, but that doesn’t necessarily have to be the case. In fact, sustainable brands could be cheaper than their competitors, if they implement procedures that are proven to save money.
Sustainable Money Saving Tips
Are you interested in updating your branding strategy and going green? Here are some tips for how your business can save money in a sustainable way, enabling you to market your product at a lower price than other brands.
Avoid pointless purchases and you will avoid pointless waste. For example, you are having new menus printed for your restaurant as part of a rebrand and need 100 copies. The cost for 100 menus is £260. But the cost for 1000 menus is £300. That’s a very significant saving per menu. Tempting, but you’ll end up with 900 menus that will never leave the box and be £40 worse off.
|Buy in Bulk||
Bulk buying creates less waste, because overall less packaging is used. Also, it will usually save money to bulk buy as the cost per unit is reduced. (As illustrated by the menu scenario above. Just be sure you need the stock).
|In catering, for example, using metal cutlery instead of disposable plastic will vastly reduce the waste from your business and lower your carbon footprint.||✔||✔|
|Recycle||Organising waste into recycling bins will minimise its environmental impact by keeping it out of landfill sites and making it an alternative to using fresh natural resources..
|In the UK, the government encourages environmentally friendly business practices by providing tax reliefs and schemes. For more information on that, visit their website.||✔|
|Use Less||Limit the amount of materials your business uses such as paper. In the office, don’t print documents unless you need to, and if you do then try printing in greyscale).
Reduce the amount of energy your business uses by switching off appliances when not in use.
Use only the necessary amount of material when packaging your product.