Brands initiate waste-reduction programs while offering discounts to customers
Trend - More brands are looking to reduce their environmental impact by offering waste-reducing, repurposing programs and products that offer consumers specialty discounts for purchasing items that would otherwise be thrown away.
Insight - Climate change's current and impending consequences are now better known to the average consumer thanks to the work of scientists and activists in this space. This education has resulted in a greater sense of urgency for consumers who are looking to reduce their own impact. These individuals are increasingly turning to brands that are choosing to prioritize sustainability.
Insight - Climate change's current and impending consequences are now better known to the average consumer thanks to the work of scientists and activists in this space. This education has resulted in a greater sense of urgency for consumers who are looking to reduce their own impact. These individuals are increasingly turning to brands that are choosing to prioritize sustainability.
Workshop Question - How is your brand prioritizing sustainability?
Trend Themes
1. Waste-reducing Programs and Products - More brands are prioritizing sustainability by offering waste-reducing, repurposing programs and products to reduce environmental impact.
2. Food Waste-preventing Ordering Apps - Apps like goMkt are stepping up to the challenge to curb food waste in affordable and efficient ways by offering discounts on unsold inventory from local restaurants, cafes, and coffee shops.
3. Discarded Item Repurposing Campaigns - Campaigns like The IKEA Trash Collection and Misfits Market are repurposing items that would have gone to waste and reducing the amount of waste that ends up in landfills.
Industry Implications
1. Retail Industry - Retailers can reduce their environmental impact and increase revenue opportunities by offering waste-reducing programs and repurposing products and inventory.
2. Food Industry - The food industry can reduce food waste by partnering with apps like Flashfood and offering discounted prices on products nearing their expiry date.
3. Subscription-based Grocery Industry - Subscription-based grocery services like Misfits Market can address the food waste crisis and reduce grocery bills by offering fresh produce at a discounted rate.
