Reframing Economic Crisis As a Catalyst for Sustainability

The cost of living crisis is affecting consumers' ability to make sustainable choices, causing an intention-action gap. Brands can address this by offering sustainability as a default feature, rather than an optional extra. They can do this by taking ownership of new markets, facilitating the secondary market for their products, and exploring new ownership models.

Subscription or rental models can lower cost barriers, while offering free repairs for life can build brand loyalty and showcase product quality. Consumers want sustainable options, but the added price tag often deters them. The looming cost of living crisis will likely exacerbate this problem, making it even harder for consumers to justify spending more on sustainable products.

Brands can address this by making sustainability a default feature and offering it as a gift to consumers. By doing so, they can drive growth and provide sustainable benefits while also addressing the upcoming crisis ethically. To achieve this, brands can focus on three key areas: taking ownership of new markets, facilitating the secondary market for their products, and exploring new ownership models.

By embracing these strategies, brands can lower cost barriers and ensure that their products can pass through multiple hands. This can include implementing subscription or rental models, offering free repairs for life, or investing in existing platforms that facilitate the onward sale of their products. In conclusion, brands have a significant responsibility to drive sustainable consumerism, especially during a time of financial strain.

By making sustainability a default feature and embracing innovative ownership models, brands can help consumers make more sustainable choices and ensure that the sustainability movement is not derailed..