As Blickpunkt Juwelier reports, the latest HDE forecast shows that sustainability plays an important role among consumers. According to this, just under 40% specifically buy sustainable products.
A new article in the Goldschmiede Zeitung also reports that sustainability is again increasingly influencing purchasing decisions. At the beginning of the year, sustainability only played a secondary role, as people set their priorities differently due to inflation and high energy costs. Following an initial easing of the situation and the positive development of the consumer climate, sustainability aspects are now once again receiving greater attention in purchasing decisions. This is particularly the case for large purchases, while everyday purchases in the food or drugstore sector still tend to make cutbacks in terms of sustainability.
Particularly for larger purchases, people are quite willing to pay more for sustainability aspects. According to the GfK Sustainability Index, this proportion is a constant 70%. In general, consumers with a higher income are more willing to pay more for sustainable products. By contrast, people with lower incomes say that sustainability aspects are very important to them, but that they are not in a position to buy sustainably for financial reasons.
In addition to purely ecological sustainability, social sustainability is also gaining in importance. According to the Best Brands study by GfK, social sustainability is even more important for the success of a company than ecological sustainability. According to the study, brands that credibly practice social sustainability and communicate it transparently will be more successful in the long term. Above all, socially sustainable business practices have a positive impact on emotional brand loyalty and also market share.
In recent years, awareness of ecologically sustainable products has naturally increased significantly. However, we at DIAVON are particularly pleased that consumers are now also focusing more and more on social sustainability. For us, social sustainability along the entire supply chain is just as important as environmental awareness, because we value the people behind a product just as much as the product itself. It is therefore a matter of course for us to treat these people with the appropriate respect and to offer all employees along the value chain good working conditions. We have personally ensured that the employees involved in the production of MANUFAKTURDIAMANTs at our grinding facility in India also work under conditions that meet our ethical standards and are committed to improving working conditions even further through various social projects. Read more about our social commitment here.
We hope that this trend will ensure that other companies also focus more on social sustainability. It is important to adequately value and reward the labor that is often provided in the poor countries of the world in particular, instead of exploiting the situation of workers there and thus increasing the profits of one's own company.
Article "HDE-Prognose: Nachhaltiger Konsum wächst!" in Blickpunkt Juwelier from 11 May 2023
Article “Konsumenten kaufen wieder häufiger nachhaltig” in Goldschmiede Zeitung from 16 May 2023
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