In my Quest for sustainability, I have read countless articles and attended several presentations. One view is more thought provoking than the other about what we can do as a society to really be sustainable. I have heard decision makers explain how their companies are “sustainable” and what they are doing to make sure that products are recyclable, have a lifetime warranty and zero negative impact on the environment.
While we might be for the most part wanting to do the right things, we might be doing the things the wrong way.
From all these discussions, what I did miss is a different approach to consumer’s behavior, a new business model and the economics of things. While we might be for the most part wanting to do the right things, it might be that we are doing things the wrong way. How about shifting our approaches to make sure that there is true sustainability so that everyone benefits?
From all these discussions, what I did miss in the conversation is a different approach to consumer’s behavior, a new business model and the economics of things
If we look at the consumer’s behavior, it is easy to see that most consumers are able to afford what they can afford; meaning , the best intentions do not mean much and do not create a bigger impact if the products that are deemed sustainable or are sustainable are not affordable to a bigger audience. We all know the coined phrase: “ Cheap and cheerful “ . While the masses might want to protect the environment, their budget allows them to do so little. If we take the example of the fashion industry, we see that things are not going the right way as many newcomers are entering the market offering fast and cheap fashion. These companies are offering cheaper products than what was offered before by the likes of H&M, C&A, PRIMARK, just to name a few.
Now with the rise of internet retailers such as Shein, Fashion Nova and Temu, we have a disruption in that segment. With the inflation and financial recovery from the pandemic, consumers are just happy to save a cent here and there to make end meats. So when someone has to decide whether to clothe their family or think about sustainability, the basic needs always win.
Consumers are also looking to buy new and improved products and keep up with the trends that are available in the market. As human nature dictates, we like change, and that is what differentiates us from other living beings on this planet.
So to sum up, when it comes to consumers, the biggest hurdles to consuming and using sustainable products had to to with:
- spending power
- trends
Although people with less money create less carbon footprint when it comes to travel and plane usages, they are overconsuming in other areas. Cheap fashion houses have also made it possible for people earning less money to buy fashionable pieces at a cheaper price. This situation creates a circle where more is produced and more is consumed and no matter how the pieces are recycled, there is still an excess floating around, destroying the value.
New business model
For most organizations, being sustainable means paying a living wage to their employees and also having more space in their manufacturing centers. However, although it is better than most sweatshops, it is very much still driven by old business model that rely on cost accounting to compute the true value of a product. While there is nothing wrong with that, we are not able to fundamentally change the way we operate as a society if we are all just looking at numbers to justify the decisions we are making.
I think it should be a new business model that goes deeper than being a B corp, paying living wages, and having less people crammed in a smaller space. Of course it will be with the participation of many stakeholders and true incentives from governmental organizations across the globe. Although we have seen a rise in the awareness about sustainability and for most the will to see things happen, greed is still at the forefront and has impedes the efforts to make true change.
While technology is far advanced, consumers are still lagging and the use and consumption of technology is not up the par. Most houses do not have sustainable means to power themselves, no elevators, asbestos is still found in many houses.
Economics of things
Although I truly believe that there is enough for everyone, the way the economy is set up is to have people with much and others with nothing. While governments design their societal models, it is a challenge to stir the “invisible hand”.
So in light of it all, one might wonder, do we really want to change things? or are we just jumping into a new hype and dreaming of solving a problem that we ourselves created to begin with.
Is sustainability just a dream?
