Environmental responsibility is a big selling point for eco-friendly consumers as they pick and choose their favourite brands. Mintel, the world’s leading market intelligence agency, has discussed these new consumer concerns in a recent release, announcing that ‘Sub-Zero Waste’ is the trend which will most heavily impact the global beauty and personal care markets in the coming years.
Consumers will no longer accept the low shelf lives, encouragement of overconsumption and lack of environmental sustainability from beauty brands. If these old school ideas are not discarded, then consumers will begin turning to smaller independent brands who share their same values.
Andrew McDougall, Associate Director of Mintel Beauty and Personal Care, released a statement addressing these new trends, and the impacts they may have for beauty brands. “Whether they are reducing or eliminating waste altogether if brands don’t change their approach now, they will become insignificant. Brands that place current profits ahead of making the necessary investment in zero waste and sustainability will not be around in the future,” said the marketing mogul. “We’re seeing that some indie brands have the upper hand with regard to sustainable beauty as they have built their business practices around ethics and environmentally friendly practices. Larger brands must adopt new practices in order to catch up with these smaller, more nimble competitors. Consumers today are paying a lot more attention to their impact on the planet and climate change calls are more drastic than ever before. A bigger-picture focus is needed throughout the beauty and personal care industry supply chain for a true zero waste mentality.”
Consumers are becoming more aware of and directly influenced by natural disasters and dwindling resources, which has inspired them to take sustainability into their own hands. Brands that support this new environmentally conscious consumer will be rewarded, while those that don’t will become irrelevant.