As consumers become more aware of the impact their purchases have on the environment and society, many are turning to ethical cosmetics that promote sustainability and social responsibility. According to a Nielsen study, 66% of global consumers are willing to pay more for sustainable products, including personal care products. These brands, which often use natural and organic ingredients in a fair way, appeal to consumers Millennials and Gen Z, who often consider the ethics of their purchases. Accenture research found that 72% of Gen Z consumers are willing to pay more for products from sustainable or eco-friendly brands.
One example of an ethical cosmetic brand is Lush, a company that uses fresh, organic fruits and vegetables in their products, as well as ethically sourced ingredients. Lush also prioritizes transparency in their supply chain and operates a “naked” packaging initiative, where products are sold without excess packaging to reduce waste. This approach has helped Lush to increase its revenue by 6% in the fiscal year 2019.
Another ethical cosmetic brand is RMS Beauty, which uses organic and natural ingredients and is cruelty-free. The brand also prioritizes sustainable packaging and donates a portion of their profits to environmental causes. This approach has helped RMS Beauty to increase its brand awareness and customer loyalty.
In addition to using sustainable and ethical practices, these brands also often align with the values of millennial and Gen-Z consumers. For example, they may promote inclusivity and diversity in their marketing and advertising, and may also support charitable causes that align with the values of these generations. This kind of approach has helped these brands to build a strong emotional connection with the customers, which has resulted in increased sales and revenue.
As more and more consumers become aware of the impact of their purchases on the environment and society, ethical cosmetic brands are poised to become increasingly popular. These brands not only prioritize sustainability and social responsibility but also align with the values of millennial and Gen-Z consumers, making them a smart choice for those who want to make a positive impact with their purchases.
Yet to showcase ethical and sustainable practices to reap the benefit that was mentioned, brands require a method to reveal and confirm their claims in a cost-effective and streamlined way. Gratitude can enable that. Gratitude enables businesses to become transparent by being powered by blockchain technology, with easy-to-use tools to record their supply chain, narrate the story, verify on blockchain and present the data in a beautiful landing page that can be issued via Gratitude’s QR Code or URL that can be placed on a physical product or embedded on digital marketing campaign. Customers can then simply scan the QR codes placed on the product or click the link on a digital campaign and clearly see the product’s journey, verify sustainability claims, or any supply chain data that the company wants to reveal to the customer.
Begin your business’ true transparency journey by implementing Gratitude to unlock the hidden value of your supply chain data. Talk to our representatives via the following channels for support or assistance in implementation:
Website : https://more-gratitude.com
Twitter : https://www.twitter.com/more_gratitude
Linkedin : https://www.linkedin.com/company/more-gratitude
Instagram : https://www.instagram.com/more_gratitude/
Facebook : https://www.facebook.com/followgratitude
Medium : https://www.medium.com/@more_gratitude
Sign up to our exclusive newsletter for special offers and latest industry insight :
