This article is part 4 of the Vegconomist X ProVeg International New Food Hub article series. It aims to provide more actionable insights into the plant-based world.
Both consumers and businesses are becoming more aware of the need for sustainable retail. It is time to align your sustainability goals. There is a simple solution that is popular, easy to implement, and can help you move towards sustainable success: switching to plant-rich products. This will reduce deforestation and food-related emissions by half, and help you reach your net-zero goals.
Plant-based is a win/win situation
ProVeg International’s 2021 pan-EU Smart Protein Survey found that 62% Europeans want their food to be sustainable and climate-friendly. At the moment, most consumers eat plant-based food primarily for their health. Brands and retailers have an opportunity to help consumers reach two goals at once, since eating plant-based foods is generally healthier. AndIt is more sustainable than a standard diet. Win-win. Plant-based foods can be expensive. How flexible are consumers’ spending habits when it comes sustainability?
ProVeg International’s white paper Sustainable retail strategies: How to align your environmental and sustainable goals with modern consumer preferencesThis article examines the question and provides seven key ways retailers can support their customers by making plant-rich diets accessible and affordable.
ProVeg International suggests that consumers be exposed to a wide variety of high-quality plant-based products in order to overcome the price barrier. Around 40% of consumers in Germany, Spain, Portugal and Spain are willing to pay a premium for sustainable products.
Sustainability cannot be achieved at the expense or taste
Although consumers are becoming more environmentally aware, they are still highly sensitive to price. Although most consumers will only pay 5-10% more for sustainable products than they would for non-sustainable products, the price gap between them and sustainable products is often much greater. Retailers must appeal to consumers by using primary motivators like price and taste to get them to accept the benefits of sustainability and health.
Cedric Verstraeten is the Global Director of Value Creation at AB InBev. He says that sustainability cannot be achieved at the cost of taste. He says that taste and cost should be considered first, as the data clearly shows.
Variety is important
If sustainability is a lower priority than other consumer motivations, then how can retailers meet these interconnected needs. The answer is simple: Variety.
A wide range of plant-based options is important for many reasons. It caters to a variety of tastes. It offers more health benefits. Third, and equally important, it taps into an important psychological phenomenon called “availability heuristic”. This is a tendency to use information quickly and easily to make decisions.
Dr Bianchi, from the Behavioural Intelligences Team, says that there are three additional interventions retailers can make to support sustainable consumption for everyone’s benefit.
- Positioning (in-store): Sustainable options will be more prominent if they are available at the point-of-sale.
- Swaps (online).Make sure your online shops always recommend plant-based products or alternatives.
- Labels:Use simple labels to help customers find healthier and more sustainable stores and products.
Instead of expecting consumers to climb a mental mountain each time they shop, and instead of asking them to try to find the most sustainable option, retailers could have an opportunity to offer an alternative. Incredible impact.
Are you interested in finding out how retailers can promote plant-based buying among price-conscious customers? ProVeg International’s whitepaper provides more information. Sustainable retail strategies: How to align your environmental and sustainable goals with modern consumer preferencesLearn how to:
- Stock more plant-based alternatives to meat
- Educate, empower and empower consumers
- Profit from your supply chain and product ideas
- Encourage your staff to achieve sustainability
- Flexitarians will find it easy to choose plant-based options
- Inform your customers about their carbon footprint
- Consider circular-economy principles when designing your products
Click HereTo learn more and accelerate your company’s transition to net-zero, click here