Last Updated on November 5, 2022 by admin
The Importance of Sustainability Efforts
Consumers are increasingly interested in purchasing products from companies that have a positive environmental impact. A study conducted by Nielsen in 2018 found that 66 percent of consumers were willing to pay more for sustainable goods. This trend is expected to continue as Millennials and Gen Zers—who are especially concerned about climate change—enter the workforce and begin spending their disposable income.
Businesses that can appeal to these values will be rewarded with higher sales and a stronger brand identity. For example, when Patagonia launched an ad campaign encouraging customers to repair their clothes instead of buying new ones, it not only saved money but also resonated with consumers who appreciate the company’s commitment to sustainability. As a result, Patagonia’s sales increased by 30 percent.
Pilgrim’s Pride is wise to invest in sustainability initiatives as it looks to the future. In addition to the potential boost in sales, sustainability efforts can also lead to cost savings. For example, by installing more energy-efficient lighting, Pilgrim’s will see a decrease in energy costs over time. These types of investments may require an upfront cost, but they will eventually pay for themselves—and then some.