Consumers, especially Millennials, are more socially and environmentally conscious. They recycle. They volunteer. They prefer brands and companies that practice sustainability, ethically founded research and diversity-and are willing to pay more for their goods and services.
Brands that can “do well by doing good” work may find the ideal intersection of helping society while increasing profits. One French supermarket did just that when they launched a campaign to cut down on food waste by marketing “inglorious fruits and vegetables”-fresh products that didn’t fit the normal physical perimeters. To combat this image crisis, Intermarchè began promoting the rejected fruits and vegetables as a way to cut food waste, offering them for 30% less than their pretty counterparts. The results were outstanding: a 24% increase in store traffic, 1.2 tons sold in first two days and an increase in food waste awareness.
Can you identify a problem in your industry that if solved, would be for the greater good?