Posted by Filipa Silverio on Oct 12, 2021
Continuing the main insights from the new 2021 #WhoCaresWhoDoes study, this week we focus on a huge $800+ billion opportunity for brands. This is to bridge the value-action gap between those that want to act more sustainably and those that do.
We also look at the latest shopping behaviour trends – still reflecting lockdown patterns.
- More than one third of shoppers would like to shop sustainably but don’t – these shoppers are worth at least $800 billion Two in three shoppers try to buy products with environmentally friendly packaging but only 29% regularly avoid plastic packs. This leaves a gap of 36% and based on the 24 countries in the study, this is worth $806 billion – a huge opportunity for brands to bridge.
- What can brands do about the value-action gap? Value, find ability and knowledge
Nearly 60% of shoppers say that environmentally friendly products are either difficult to find or too costly – and more than one in five are not clear how to act. The potential value-action gap rewards are huge for brands that can make this easier.
- With lockdown, shopping frequency dropped and basket size rose significantly – so far in 2021 these behaviours remain the norm
Pandemic advice and sometimes lockdown rules led to less shopping around, fewer store visits but very large basket sizes in a record FMCG market. Both behaviours are still the case in Q2 2021.