Nudging Customers to Buy Sustainably
Nudging Customers to Buy Sustainably
Helen Lee Schifter is a former arbitrage trader who has turned her expertise towards working with businesses to help them create sustainable buying habits.
How Businesses Can Nudge Buyers to Buy Things Sustainably
1. Sustainability is a priority.
Not only must businesses take climate change seriously, but they must also be aware of how their choices affect the environment and their bottom line. Becoming more sustainable is not just about making ethically sound decisions and using fewer resources. Still, it’s also about becoming more efficient and improving productivity to avoid wasting resources and money. Being more efficient means businesses can reduce waste by eliminating unnecessary activities and packaging, for example. In addition to being more environmentally friendly, being more profitable can also lead to greater sustainability because it allows businesses to invest in resources that improve their products and create new services for their customers. They can also reinvest profits into ways of reducing waste further.
2. Consumers want to make better choices.
Businesses that create sustainable products will attract customers willing to pay the premium without being forced to. Clients are more than willing to pay more for items made in ways that are good for the environment, but they do not want this extra cost to be hidden in the price or pushed onto them by advertising campaigns. Instead, consumers want businesses to be transparent about how they’ve gone about making products and offer information so consumers can make better choices when they’re deciding what goods and services they buy.
3. The market will reward businesses that invest in sustainability.
Global markets change over time. New products and services will always come onto the market, so businesses must be willing to change with them. Consumers are increasingly looking for choices that satisfy their values. Companies need to adapt to this evolving consumer base by offering sustainable products, services and options that give consumers what they’re looking for in terms of quality and sustainability.
4. Consumers are fickle.
Consumers are moving away from traditional retail and shopping because they want to make their choices quickly and easily online. Businesses need to understand the way buyers shop today to offer sustainable alternatives that will satisfy their customers’ needs and be profitable for the company that provides these products.
5. Stakeholders care about sustainability.
How businesses operate can affect people, animals and the surrounding environment near and far. Companies need to be aware of their decisions’ impact on society so that they can decide what options are best for product supply chains and the quality of their goods and services. This can influence how they do business, whether by using renewable energy, improving the sustainability of the materials used to make products, or deciding where to locate a particular business site so that local people will benefit from it.
Helen Lee Schifter believes that it is important for businesses to understand the importance of sustainability and how they can create sustainable buying habits to find out more about it and make the changes needed to be more environmentally friendly. Consumers are always looking for new ways to buy more ecologically friendly things, and businesses will have a huge advantage if they embrace this movement. Companies that want to be sustainable need to understand environmental issues and create sustainable products so that both their customers and the environment benefit from their decisions.