In 2021, sustainability proves profitable in agriculture, hospitality, food and beverage
Covid has sparked many important conversations, and one of them is resilience. In an age of uncertainty, we have begun to shift from prioritising infinite growth to building resilience—in our communities, environment, and the world.
Building a resilient world means creating food, drink, farm, and hospitality businesses that are environmentally conscious. And as we are becoming more aware and interested in where our food comes from, the businesses that are moving in the direction of sustainability are getting rewarded.
Research shows people are increasingly showing support for businesses that demonstrate care for the environment. So much so, in the COVID-19 environment, sustainably marketed products were able to hold their spot in the market share,” said Larry Levin, executive vice president of Market and Shopper Intelligence for IRI.
Pursuing sustainability wasn’t always rewarded, from a business perspective. Such decisions added extra costs and there wasn’t a large enough market.
Today, though, sustainability is now identified as the top trend across the industry.
Randi Kronthal-Sacco, a senior scholar at the NYU Stern Center for Sustainable Business told Smart Brief many brands are currently failing to communicate their sustainable actions to green consumers.
To attract such people, she says, brands need to make ethical changes and then advertise those changes through print and digital marketing platforms, as well as on packaging and menus.
“This is the future, and if you don’t adapt, you risk obsolescence,” Kronthal-Sacco says.