Seven out of ten consumers indicate that it's important for the companies they purchase from to engage in active sustainability efforts. Moreover, if companies fail to meet these expectations, many consumers hesitate to choose a competitor instead. This, and much more, is revealed in the Sustainability Survey conducted by Svensk Handel.
The proportion of consumers who believe it's important for the companies they purchase from to work sustainably has increased by 12 percent compared to last year. Companies themselves also notice this increased interest, with one in four businesses experiencing an uptick in consumer interest in sustainability over the past year. More customers are demanding sustainable options, and the trade sector is ready to take responsibility.
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'The figures we present today show that consumers expect the products they purchase to be environmentally and economically sustainable. For most companies, this is already a given, but we hope to inspire even more trading companies to engage in active sustainability efforts. Trade is driving the green transition,' says Sofia Larsen, CEO of Svensk Handel.
Price and quality are key factors for customers
Despite over half of consumers stating that sustainability is an important factor when purchasing goods and services, price and quality remain more crucial. Eight out of ten consider these factors when making purchases. The centrality of price to customers was noted last year as well and can be attributed to tough economic times, where people are tightening their purse strings and planning their purchases more carefully.
'Price will always be a central factor. From a sustainability perspective, however, it's positive that quality is also valued by consumers. Goods of high quality last longer and provide value for money in the long run. There are ample opportunities here for trading companies to attract new customers,' says Sofia Larsen.
New EU legislation imposes significant demands
In the coming years, Swedish trading companies will need to, to some extent, adjust their operations due to new EU legislation. The regulations impose new requirements for sustainable business practices, focusing on circular offerings, sustainable products, as well as communication and supplier responsibility. However, awareness of this is low. Only half of companies are somewhat familiar with the regulations, and only one in six feel they currently have sufficient resources and expertise to meet future demands.
'We welcome much of the EU's ambitious sustainability legislation. Now it's important that all trading companies, large and small, are given the right conditions to meet the requirements imposed on them without losing competitiveness. Swedish Trade will take our responsibility and work intensively and closely with companies to provide relevant knowledge and information,' says Sofia Larsen.
Statistics from the survey
- 75% of consumers have purchased second-hand items in the past year.
- 60% of trading companies currently have a sustainability manager. 79% of these also sit in the management team.
- 53% of companies cite contributing to sustainable development as a significant driving force in their sustainability efforts.
More information:
Svensk Handel
www.svenskhandel.se
