91% of pet industry professionals feel like there is an increasing demand for sustainable products, but only 22% of pet industry professionals rank their own practices as sustainable. There are many benefits for a business to become more sustainable, not just for the environment, but for profits as well.
Sustainability programs drive business value in ways such as:
- Increased sales
- Bottom line savings
- Greater consumer loyalty
- Higher employee productivity
- Reduced risk
- Increased innovation
It is also proven that consumers are willing to pay more for sustainability. The top sustainable attributes that people look for in their products are:
- Sustainable packaging
- More environmentally friendly
- Ethically raised/cruelty free
Millennials value sustainability in the products that they purchase. This matters because millennials are the largest adult cohort in the world. They are also the most educated generation in the world, and they are willing to pay more for sustainable brands. On top of that, pets are very important to millennials. 65% of 18 to 34 year olds plan on acquiring or adding another pet to their household in the next five years, and 54% of this age range treats their pets as they would a child. Pets are family to this generation and they are willing to pay for the best.
Last but certainly not least, sustainable business will inspire greater consumer loyalty. Sustainable and ethical business practices are 28% of the reason a consumer will stay loyal to a brand.
What Can You Do?
As a retailer, you are probably starting to feel pressure to make your business more sustainable but feeling unsure about where to begin. By joining a non-profit called the Pet Sustainability Coalition and becoming accredited, you can unlock exclusive membership benefits and learn more about sustainable business practices.
Some other ways you can emphasize sustainability in your business are:
- Reduce, reuse, recycle
- Return pallets for reuse
- Reduce paper
- Donate unused products
If you are interested in pursuing a more sustainable business and are interested in becoming accredited by the PSC, you can learn more about it here. Join Phillips and the PSC in pursuing a renewable pet industry!
What is the Pet Sustainability Coalition?
The Pet Sustainability Coalition or PSC is a nonprofit organization that is dedicated to creating a more sustainable pet industry. PSC works with companies to advance business through profitable environmental and social practices. They work to transform the pet industry by educating its members about large-scale issues such as sustainable protein sourcing and packaging. The Pet Sustainability Coalition are retailers, brands, manufactures, and distributors taking action.
The PSC works towards a better future for pets, people, and the planet. They incentivize and support company improvements via membership benefits while addressing environmental issues too big for just one company to solve.
Watch our recent Pet Panel with the Pet Sustainability Coalition