I regularly hear the incorrect assumption that most people are prepared to pay more for a product, just because it’s sustainable.
The issue with this assumption, is that other major factors, like ‘price/value’ usually rank higher in the decision making and buying process, for most people. Sustainability might be part of the perceived value in the product but it’s usually not powerful enough, to justify being more expensive, than your competitors non-sustainable product.
For example, If your competitors non-sustainable product is cheaper but has the same features and benefits as yours, the customer will pick the cheaper one.
So in summary be sustainable but either build in more perceived value or be cheaper, if you want to effectively win more customers.
N.B. Price and value are two in the same for me. Something is usually considered to be ‘too expensive’ when the right amount of perceived value is missing from the proposition.
My name’s Oli, nice to meet you! I’ve worked as a brand builder, at the fastest growing brands in the UK. Some of the brands that i’ve worked on building are Gymshark, Fnatic, Stay Wild Swim, Boxraw, Sunspel and Speedo intl. I’’m on Medium to share advice and experience on starting and building brands. You can find me here too – https://www.instagram.com/oliroyce/