We celebrate the 5th anniversary of our global Who Cares, Who Does Sustainability Study.
In this weeks edition we look at another top headline from the recently launched WCWD 2023 report.
Price is the greatest barrier to purchasing sustainably
Globally, 3 out of 5 shoppers agree that the greatest barrier to purchasing sustainable products is price. Being ‘No expert’ and ‘Hard to find’ are close 2nd and 3rd barriers.
How do these insights translate into action?
1. Do not overprice sustainable products.
2. Educate shoppers on sustainable options.
3. Be conveniently available to purchase.
Brand equity gets you listed
Last week we showed that only about half of all launches are listed by more than one Top 10 retailer. One important door opener is the strength of the launching brand.
The average launch by a really large brand (more than 25% share) will on average be available in three of the Top 10 retailers in Q1 after launch, whereas launches by tiny brands (less than 2% share) can expect to be listed by fewer than two Top 10 retailers on average.
Brand equity gets you buyers
Launches by larger brands can also expect to reach more buyers – likely a combination of better physical availability (i.e. more retailers selling the launch) and more mental goodwill stemming from the equity of the brand name. Compared to the relative penetration a tiny brand launch can reach in Q1 (0.15% of category buyers), launches by really large brands reach more than 4 times that level.