Shoppers Spending Choices

The Lempert Report
March 01, 2023

There's a new survey that's just come out that says that 65% of consumers want to make the right spending choices to live a healthier and more sustainable life. I don't think anybody can really argue with that. But you know, if we take a look at sustainability, and I'm gonna go back to what I always say, it's about climate. It's about agriculture. We've got record droughts, we've got record floods globally. And frankly, you know, we're not even talking about the whole methane gas situation, which is looming in front of us. What can retailers do to be able to help this situation? Not only retailers, but what should retailers and brands be doing? 

Sally: Yes. Well, you know, a great company that is a great example, sort of leading the charge in this area is Nestle. And, they are investing in 500,000 farmers to transition to regenerative farming practices, To take care of the soil and to keep the soil really healthy. They're replenishing natural water cycles and doing things to soak up carbon emissions. So, these are great efforts they're doing. But what's also in the conversation for retailers and for brands is how to get consumers to be attracted to food products that are better for the climate. Because we can change the way that we farm, but we also need to change the way that we eat.

Phil: And the way we communicate. And what this group from WeForum talks about are three ways to do that. One is having clear and credible information. I mean, that's one of the big problems that we've got in the food world. Having clear, credible, accurate information, matter of fact, we also go on where they say affordability and availability, that's the problem. Their data shows that one in two consumers cite costs is the main barrier to making more sustainable choices. We can't have that happen. And third, which was really interesting to me, was attractiveness. So taking away the obvious barriers of price and availability, and providing the clarity to allow informed decisions, only half of the problem. It's also vital that we make sustainable options as tasty and appealing, if not more so than less sustainable alternatives. 

Phil: We can't compromise on quality and enjoyment, no question about it. I mean, when we started to see organics first come out and they were way overpriced, it was a wake up call to the organic industry. They came more in line with their prices, and guess what happened? Consumers gravitated towards them. And it's a burgeoning business that keeps on growing.