HowGood’s EVP of Research, Ethan Soloviev, will be joining an expert panel at the Regenerative Earth Summit this December 5-6th in Boulder, CO. The summit gathers leaders in organic and regenerative food, farming and fashion for education sessions and action planning towards corporate sustainability goals.
The food and fashion industries are well-positioned to make consumer-driven, systemic changes to raw material sourcing practices. With traceability and sustainability factors impacting consumer purchasing decisions more than ever before, responsible brands are gaining market share, fast. Ethan will share observed marketplace trends in sustainability and discuss steps that retailers and CPG brands can take to reduce their environmental impact and capture the millennial market.
Sustainability meets sales: HowGood’s data capabilities
HowGood’s uniquely comprehensive dataset allows for new insights into the intersection of sustainability and sales. 127 sustainability attributes are available for food products, and 155 for health & beauty, covering roughly 900,000 UPCs in total. Attributes range from straight-forward characteristics like “contains all non-GMO ingredients” and “Fair Trade certified” to those requiring more complex, on-the-ground knowledge, such as “uses progressive processing practices” and “low climate change risk.”
Ethan will discuss patterns in consumer preferences that emerge when this sustainability attribute data is mapped against sales. For example, a recent report revealed that, in the coconut water category in 2017, products achieving the “minimal processing” attribute grew 13%, while the category as a whole saw a 4% loss. Furthermore, products that achieved the “sustainable farming practices” and “clean ingredients” attributes grew 114%. This type of insight can be found for any category across food and health & beauty, for any of HowGood’s environmental, social, or CSR-related attributes.
What we at HowGood love doing most is helping brands and retailers make decisions backed by concrete data. Navigating the world of sustainability is complex enough as it is, and it is made even harder in a limited-resource business environment. If you’re in the Boulder, CO area in early December, be sure to check out the conference to connect with Ethan and explore more of HowGood’s data capabilities.