Consumers Demand Sustainable Food and Companies Find Opportunity in Restrategizing
Customers Changing Food Preferences Demand Food Industry to Restrategize
- 77% of industry respondents reported that they have changed or added products based on consumer concerns.
- 61% customers will chose a PRODUCT with CSR. These customers would choose one product over another if they see some type of corporate social responsibility practices on the packaging.
- 63% of survey respondents have established a formal CORPORATE RESPONSIBILITY STRATEGY.
- TOP 2 BENEFITS of corporate responsibility programs/strategies are MARKETING and CONSUMER PREFERENCE.
- WASTE REDUCTION is the #1 social responsibility program for food and beverage companies. Other commonly adopted Sustainable Strategies are as follows:
“Until recently, restaurants and markets would reject imperfect fruits and vegetables due to customer preferences, causing farmers to waste much of their harvest,” says Donald Snyder, partner and leader of the Food and Beverage Practice at Green Hasson Janks and one of the Principal Authors of the Report. “Now consumers are shifting to an environmentally conscious lifestyle and companies that deliver imperfect foods are popping up everywhere". Commenting on sustainability trends in the industry, he continues, "You cannot effectively run any company without sustainability standards these days.....Companies are getting involved with annual sustainability reports now, which is a step that goes beyond regular reporting. Socially responsible food and beverage companies attract customers that expect to pay a higher price for SKUs that are healthier or better for the earth". Snyder adds that the evidence is mostly anecdotal on whether a social responsibility policy directly impacts revenue, but notes, "Companies that are founded on a sustainability strategy owe ALL their revenues to being socially conscious by definition.”