Sustainability Continues to Attract Consumers
At the Store Brands Industry Forum on Sustainability, Dr. Krishnakumar “KK” Davey, President of Client Engagement at IRI, discussed the ongoing trend of sustainability among consumers and how retailers can capitalize on it.
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Given increased consumer demand for these sustainable products, IRI data shows that environmentally-friendly items are growing much faster than their conventional counterparts. Sustainability-marketed CPG products have grown at a CAGR of 7.34% from 2015 to 2021.
“More products are being launched, and more choices are available for sustainability,” added Davey. “Just because something is available doesn’t mean people will buy it, but this chart shows with our point-of-sale data that sustainable products are growing at a much faster clip that regular products, which is good news from a sustainability perspective.”
Davey’s keynote address, along with the full Store Brands Industry Forum, can be viewed on-demand here.