Recent research done by NYU Stern Center for Sustainable Business found that “products marketed as sustainable grew 5.6x faster than conventionally-marketed products, and 3.3x faster than the CPG market.” This shift over previous years supports the general consensus that consumer mindsets are shifting in regards to what they value in the products they purchase. Especially in markets with many options to chose from, customers tend to pick the products that are eco-friendly and sustainable. The study shows that consumers are making a conscious effort to be intentional about creating better habits and lowering their personal consumption and reliance on single-use products.
The Harvard Business Journal reinforces these findings and contends that the pattern of being environmentally conscious with purchases is only expected to grow in the coming years. From 2013 to 2019, there has been a 29% increase in sustainability-marketed product sales. Based on an extrapolation analysis, HBJ calculated that across all categories, sustainability-marketed products delivered $113.9B in sales in 2018 and are projected to increase to about $140.5B by 2023.
This increase in sales not only reflects on the consumer mindset but also a change in priorities and goals amidst manufacturers, distributors, and sellers. NYU Stern Center for Sustainable Business also found that in “over 90% of individual product categories examined, the growth of sustainability-marketed products outpaced total category growth.” As a way of responding to consumer demand and interest in eco-friendly products, manufacturers have been inventing and investing in products that are viewed as better for the environment.
Over the last few years, eco-friendly, reusable, and sustainable products have shown re-markedly increased availability in product categories that were traditionally dominated by single-use products. Some examples include beeswax paper instead of plastic wrap, Swedish dishcloths instead of paper towels, and reusable mop pads instead of single-use disposable pads like those offered by Swiffer. Even well-established companies have also come to realize that sustainable business is good business and in turn, have been focusing their efforts on finding ways to better their existing products to be more eco-friendly in terms of packaging and materials.
About Turbo Mops
Turbo Mops is a manufacturer of eco-friendly cleaning products based out of Minneapolis, Minnesota. Their product line provides a variety of eco-friendly cleaning products include reusable microfiber mops, cleaning brushes, and cleaning accessories.
Company Name: Turbo Mops
Contact Person: Jessica Anders
Email: Send Email
Phone: 612 294 9655
Address:1300 Lagoon Ave
Country: United States