Cost-of-living crisis is squeezing sustainable shopping choices: Helen Morgan

It is clear that those in our region are acutely feeling the squeeze from the cost of living crisis. Not only that but the cost of living pressures are threatening sustainable consumption, as people feel forced to choose between price and planet.

Further research by Accenture has shown that almost half of consumers (49 per cent) across the region said they are more likely to prioritise price over environmental factors when shopping due to the rising cost of living, compared to six per cent who are likely to prioritise the environment over price.

During times of financial uncertainty, people will understandably, prioritise family needs that are cost-driven, and those choices aren’t always the most sustainable options.

These are sobering statistics and businesses have a duty to support consumers and families, helping them to shop economically and sustainably. It seems that consumers agree, with over half (55 per cent) in our region claiming that companies aren’t doing enough to limit carbon emissions in products and services.

Ultimately, consumers should not have to face a dilemma of cost vs sustainability. Businesses need to innovate and adapt if we are to drive positive change when it comes to sustainability. So how can businesses help consumers and the planet? Well, consumers may be providing some of the answers for us.

Our research shows that in our region, over half (53 per cent) of consumers believe that reward or incentive schemes for recycling and returning products are the most effective strategies for encouraging people to shop sustainably.

There are a growing number of reward schemes that incentivise recycling or returning products, but we need to ask how they can be improved and built upon - not only to support consumers in a challenging time - but to encourage everyone to make more sustainable choices too.

We must do this by making them informative. The more we explain, the more we engage and educate. Consumers want to know that they are helping the planet and how, so it is our job to tell them.

Carbon labels on products, alongside reward schemes and refill schemes, are good examples of how we can educate and support consumers, but they are not the whole solution.

It’s also about tackling the common misconception that sustainable equals more expensive. For consumers, cost-cutting practices often go hand-in-hand with sustainable consumption, as people purchase less, make better decisions regarding food waste, and are more conscious of their energy consumption.

The challenge for businesses will be offering options to consumers which are cost effective, but also sustainable. This is very feasible for them to do and may involve businesses, such as retailers, helping consumers to understand the lifetime cost of a sustainable product, which may well be less expensive than a more transient item purchase.

It is about making it easy to be sustainable and educating people that this doesn’t have to be expensive and be complicated – and it’s down to business ensure consumers don’t have to choose between price and the planet.

Helen Morgan is Leeds City Region Lead for Accenture