How businesses can successfully influence sustainable consumerism in Singapore

In Singapore, 80% of consumers are environmentally concerned, but only 35% are willing to pay up to 10% more for eco-friendly goods.

The rise of environmental consciousness has led to consumers worldwide becoming more intentional in purchasing behaviours. Yet, the journey to adopting sustainable lifestyles is not without its hurdles as 65% of consumers say that they want to buy driven brands that advocate sustainability but only about 26% actually do, according to a Harvard Business Review study. In Singapore, 4 in 5 consumers are concerned about the environment but only 35% are willing to pay up to 10% more for eco-friendly goods. 

Clearly, consumers want to lead more sustainable lifestyles but may have trouble walking the talk. This disparity between intention and action presents an opportunity for businesses to dig deep into potential root causes, and from there, play a pivotal role in helping consumers overcome the inertia and lead them to making more proactive decisions in going green.

Driving sustainability across supply chain ecosystems 

Businesses stand to make the biggest impact through designing an ecosystem that embraces circularity and promotes eco-friendly choices. This ecosystem should comprise a network of organizations including suppliers, distributors and partners seeking to create impact collectively. 

Starting at the home ground, businesses today need to embrace technologies such as additive manufacturing (3D printing), advanced robotics and large-scale data analytics to reinvent the way their products are designed and manufactured, with sustainability and energy efficiency as key objectives. From there, successful green processes and case studies can be shared with the wider partner network to effect change on a larger scale, democratizing solutions to better manufacturing processes, distribution, e-waste recycling and more, to ensure effective circular production.    

By consistently spotlighting and prioritizing green mechanisms, overtime, leading consumer brands will reshape the landscape and raise overall industry standards, making it easier for other brands and the consumer make the transition to the sustainable choice. 

Promoting responsible consumption 

Establishing benchmarks for transparency across the value chain can play a key role in enabling brands to promote responsible consumption. Retailers and leaders in the consumer market should provide comprehensive information about their products, including ingredients, sourcing, manufacturing processes, and environmental impact. This information should be easily accessible to consumers through packaging, websites, or mobile applications. Data and metrics related to sustainability including carbon emissions and internal environmental, social and governance (ESG) practices can be integrated into sustainability reports, as a way to uphold brand accountability and while empowering the consumer with information upon which they can act. 

With ongoing conversations around sustainable consumerism, channels for open communication are another area brands can invest in, allowing consumers to ask questions, provide feedback, and voice concerns. When dialogue is facilitated, transparency and trust can be further fostered. For instance, there are companies who have published reports on the sustainable impact initiatives over the past 60 years, with key statistics on their progress and bold pledges towards climate action. 

When companies are resolute to make a difference, change will systemically trickle down to individual consumers, who will become more aware of better, healthier, and greener choices, and stick with them in the long run as part of their core values.  

Leveraging consumers brand loyalty 

Brand loyalty can be a powerful force to encourage and empower consumers to adopt more sustainable lifestyles 

A study by Tech Report revealed that loyal consumers are likely to spend up to 67% or more on brands they trust compared to new customers. This means the likelihood of loyal customers purchasing sustainable products from a brand they trust, even if the price is slightly more expensive, is higher. Consumers may even go one step further to engage in green trends started and perpetuated by the brands they support. 

But brand loytaly is a two-way street. To maintain and grow affinity, brands must go beyond steadfast visions and values to come up with new and exicting ways to engage with and inspire their customers, making it easier for them to advocate for and shout about their favorite brands 

Striving towards sustainability as a way of life 

Businesses have a social responsibility to lead the way in inspiring consumers to make sustainable choices in their every day. Undeniably, this requires a collective effort across governments and stakeholders to inspire consumer action and promote sustainable messaging. 
Together with promoting responsible consumption and leveraging on brand loyalty, brands can succeed in fuelling a shift towards a culture of sustainable living across the globe. A better future for society is near, and businesses worldwide should consider their role in this model to build momentum for social movements and join in the efforts.