Sustainability has become an increasingly familiar word to people of all ages. As we begin to see the drastic consequences of global warming, we have become aware of protecting our environment. Development is what the whole world’s hungry for, but now, it needs to be sustainable as well.
Companies advertise their images as sustainable by switching production materials or creating eco-friendly products. Customers are developing new green habits such as using paper bags, wooden straws, or personal water bottles. However, currently, there are few insights into how sustainability is doing in Vietnam. A recent survey conducted by Decision Lab has shed light on this matter.
Overall, Vietnamese has a high interest in environmental issues (73%), especially Gen Z (73%) and Millenials (75%). Therefore, it would be more beneficial for businesses to target younger customers for their eco-friendly products.
Compared to other age groups, Gen Z consumers emphasize more on individuals’ roles in environmental protection. Regarding personal responsibility, they are less likely to recycle and purchase eco-friendly products than Gen X and Gen Y, which might be due to their lack of financial stability.
While only 11% think that corporations should be held responsible for protecting the environment, all three generations believe that companies should do more to contribute to this movement. Surprisingly, Gen Z appears to be in support of corporations when only 67% of them agree that corporations should do more, compared to 79% in other age groups.
With such characteristics of Gen Z, brands are recommended to further promote green campaigns to reinforce this belief and also look for new ways to minimize the costs of eco-friendly products in order to make them more accessible to this generation.
A company that seems to thrive thanks to its eco products is An Phat Holdings. On Amazon, its 100% compostable trash bag was a hit among customers. After being thrown away, these eco-bags can decompose into humus, water, and CO2 within 6 months-1 year. At the same time, An Phat Holdings also invests in technology, finance, and people with the aim of autonomously producing green materials for environmental protection and sustainable development.
In this report, it is clear that many brands can still make profits while adhering to eco-friendly production processes and strategies as the concern for environmental issues is rising among customers. These are signs for businesses to organize campaigns that further raise awareness on socially relevant issues. By doing so, not only they can attract more customers but also help keep our environment cleaner and greener.