To better meet the research needs of clients, insight teams should incorporate sustainability into their research practices from the outset. This allows businesses to align their strategies with evolving consumer expectations, uncover new opportunities, and drive long-term success. Let’s explore why the insights industry must prioritise sustainability and how it can be effectively integrated into research practices.
Reports have shown that the modern consumer actively seek out brands that reflect their values. Market research that prioritises sustainability can uncover these evolving consumer preferences, providing businesses with critical insights into what their target audience values most.
For example, PwC’s 2023 “Voice of the Customer” survey revealed that four-fifths of consumers are willing to pay more for sustainability, even in the face of the cost-of-living crisis. This insight has led companies to carefully balance keeping prices affordable for consumers while minimising their environmental impact to attract and retain customers.
Focusing on sustainability in market research enables businesses to identify emerging opportunities that align with a more eco-conscious world. This can open new consumer segments that companies might not have previously considered, giving them a competitive edge.
Take the electric vehicle (EV) market, for instance. Companies like Tesla capitalised early on the growing demand for sustainable transport options, enabling them to lead in a rapidly expanding market. By contrast, Volkswagen, which was slower to adapt, has faced challenges such as sluggish sales and competition from more affordable EV models. This example underscores the importance of strategic, sustainability-focused research in staying ahead of market trends.
Insight teams play a crucial role in helping companies gather measurable data about their sustainability initiatives. This might involve tracking improvements in resource efficiency, waste reduction efforts, sustainable sourcing, or the adoption of environmentally friendly technologies. By grounding sustainability communication in hard data, businesses can substantiate their claims and avoid vague or exaggerated statements that may be perceived as greenwashing.
For example, a company promoting its waste reduction efforts should have concrete, verifiable data demonstrating the impact of these initiatives. Market research offers the necessary insights to ensure that such claims are credible, transparent, and trustworthy.
Market research can also serve as a valuable tool in identifying potential greenwashing risks. By analysing competitor claims and examining consumer feedback, businesses can avoid making similar mistakes. For example, a company may discover that its competitors are being criticised for using vague terms like “natural” or “green” without providing specific details to support these claims. In response, the company can refine its own messaging, offering clearer, more detailed information about its sustainability efforts to ensure transparency and build credibility.
As the global focus on environmental responsibility intensifies, businesses that will need market insight to help meet growing demand for sustainable goods and services. Market research firms that integrate sustainability will be better equipped to meet evolving consumer demands, uncover new opportunities, and communicate their sustainability efforts effectively. By taking these steps, companies can ensure they are not only contributing to a healthier planet but also securing their place in a sustainable future.
G13+ is a UK-based consulting firm specialising in sustainability standards, strategy, carbon footprinting, corporate reporting, and net zero road-mapping. Our team of experienced sustainability consultants equip market research teams with in-depth training on the latest sustainability trends and practices. With a focus on actionable insights and data-driven strategies, we help your organisation stay informed and competitive in the ever-evolving sustainability landscape.