Sustainability is increasingly being viewed as a competitive advantage rather than a cost. Companies are increasingly marketing themselves and their products as sustainable. In this briefing, we will talk about the importance of environmental sustainability for companies and highlight related activities of some major appliance companies.
This report comes in PPT.
For most companies, sustainability is no longer viewed as a cost centre. Sustainability is now a competitive advantage that can be at the forefront of their marketing and PR push. In comparison to the technology race, sustainability is more nuanced and plays a softer role in relating to consumers’ environmental sentiments.
With sustainability becoming increasingly critical to consumers, employees and investors, CEOs are playing a leading role. In 2022, the proportion of industry experts stating that their company prioritises environmental issues reached almost 60% globally, a five percentage point year-on-year increase.
Regulators, especially in the EU, have been increasingly focused on high greenhouse gas (GHG) emissions industries. A slate of environmental-related regulations in the EU on repairability, energy efficiency, recyclability and even microplastics have been enacted over the past years. Companies who want to continue selling in the EU need to comply with these regulations.
“Reducing environmental impact” has consistently been the most voted for definition of sustainability since Euromonitor’s Voice of the Industry: Sustainability Survey was fielded in 2019. Being known as a sustainable brand helps with ESG positioning and attracts investors and partners that want to only work with companies with the same mindset.
In addition to investments in sustainable technologies, sustainability is also, in large parts, a messaging campaign. Companies need to tailor their message to their stakeholders and continuously emphasise the part they are playing. In addition to marketing messages that clearly outline a company’s targets and achievements, the CEO needs to take the lead as well. Companies that are unable to do this will ultimately lose out.
Consumer Appliances is the aggregation of major appliances and small appliances. Major appliances are an aggregate of the following categories: refrigeration appliances, home laundry appliances, dishwashers, large cooking appliances and microwaves. Small appliances are an aggregation of the following categories: food preparation appliances, small cooking appliances, vacuum cleaners, irons, personal care appliances, heating appliances and air treatment appliances.
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