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New Trend: Eco-friendly Products and Packaging
Sustainability has reached a new level of awareness by customers, businesses and policy makers. Customers are looking to buy from businesses that use sustainable products and practices. The importance of eco-friendly in business has taken a leap forward in priority, along with price and quality. The United Nations created The 17 Sustainable Development Goals which were adopted by all UN members in 2015 and are targeted to be achieved by 2030.
The shift in consumer buying, with more consumers willing to pay extra for environmentally friendly products, reinforces the need for companies to increase their commitments to responsible business practices," said Jessica Long, a managing director at Accenture Strategy. "Companies across industries have started to lead with purpose, including embracing the circular economy as a greater opportunity to drive growth and competitive agility."
New Insight: Finding the Right Fit
Businesses can look for the “The Why” behind a new product or material. Seeing the whole story can help your team decide on the value in adopting sustainable materials. It’s critical to understand from the lifecycle of a product; where does it come from, how is it processed, and how to properly recycle or dispose of a new material.
Cruz Foam CEO, John Feltz, explained during a recent N3 Innovation Demo Day, the “The Why” behind Cruz Foam. Switching over to sustainable products is not only important for your consumers but also as statewide bans on current materials and practices are being implemented.
Feltz further explains how Cruz Foam has achieved certifications and piloting in various industries. This was necessary to provide businesses with validation of sustainability that can be shared with customers.
New Action: 4 Questions to Consider
Sourcing the right company for testing with new sustainable materials can be difficult.
When you’re considering a new process, consider these questions.
Does this company match your goals and values?
Does this new eco-friendly material meet your performance needs?
Will it fit into your existing manufacturing process?
Does it make sense economically?
If you’re looking for a new sustainable process or material, N³ Innovation can help you! Contact us today!
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