What is at stake?
Why is it important?
Consumption addresses the economic, social, and environmental aspects of an ESG policy.
The attention that companies must pay to these issues of more responsible consumption is reflected in Sustainable Development Goal 12 - Responsible Consumption and Production, which states:
If the global population reaches 9.8 billion by 2050, the equivalent of nearly three planets will be required to provide the natural resources needed to sustain current lifestyles. (Source)
Startups thus bear the responsibility to avoid encouraging overconsumption, overproduction, wastage... which pose risks to the planet, as well as to consider the financial risks for consumers.
3 key steps to take action
1️⃣ Educate Consumers to Act and Engage through "Citizen" Communications
- Promote responsible and meaningful consumption in marketing campaigns
- Engage the community in causes supported by the startup
2️⃣ Directly Challenge the Consumer Regarding Their Needs
→ Guide the consumer towards an offer that aligns more closely with their needs, even if it generates lower margins. This will help prevent customer returns.
Examples of actions: implementing a self-assessment, creating a buying guide, or training a sensitised customer service.
3️⃣ Limit the Use of Promotional Offers
- Prioritise fair pricing and avoid offers that encourage overconsumption (such as Black Friday)
- Be transparent about pricing, enabling consumers to understand the applied prices and their social and environmental justifications
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