The latest research suggests that, now more than ever, companies need to infuse their brands with purpose, trust and sustainability; something that benefits communities at large and the environment.
In a report that offers an insight into the new priorities of consumers, and opportunity for every business to survive and thrive, Euromonitor International, a global market research company, has revealed six trends that are defining consumer behaviour and influencing business strategies amid the COVID-19 pandemic:
1. An increase in the use of digital tools for businesses to stay connected with consumers at home.
2. An increase in safety measures at businesses’ brick-and-mortar outlets, exceptional sanitisation standards, more products that enhance hygiene and immunity, and contactless services.
Coral aims at providing a convenient and safe way to discover value-added eco-friendly products from local sustainable brands across multiple categories
3. Increased demand for solutions to enhance work-life balance as remote work increases.
4. An increase in consumers’ desire to reconnect with nature and preference for open-air venues for leisure and safe socialising.
5. Increased consideration to budget and value by consumers, who will favour affordable, value-added products and services.
6. A rise in purpose-driven initiatives that support the triple bottom line (TBL): people, planet and profits, as 70 per cent of professionals expect consumers to be more conscious about the environment and sustainability than before COVID-19.
Almost as if in anticipation of, and certainly in response to, these changing trends, a locally-sourced online market-place, www.coral.shopping, that exclusively features products that are good for people and good for the planet, has just been launched.
“Coral was our response to COVID-19 by providing an online one-stop-shop for everything eco-friendly in Malta,” Zen D’Amato Gautam, founder of Eco Market Malta, says.
Coral, a brand by Eco Market Malta, aims at providing a convenient and safe way to discover value-added eco-friendly products from local sustainable brands across multiple categories. All endorsed with the ‘Eco Market’ approval stamp against greenwashing (a false impression or misleading information that makes a product seem eco-friendly, while in reality it is not).
Even before the pandemic, Malta has been witnessing a significant rise in small and medium business focused towards earth-friendly and sustainable products: zero-waste alternatives, reusables, products made from recycled materials, recyclable, up-cycled, sustainably-sourced, natural, vegan, organic, fair-trade and pesticide-free, among others.
“As I started to discover these new, amazing, responsibly-made products, the idea of creating a marketplace especially for them seemed quite natural,” D’Amato Gautam continues.
“When we realise the power that we, as consumers, hold in our pockets, as the above graphic illustrates, it makes sense and feels good to lean towards more responsible and conscious shopping, which is now easier than ever. It is possible to live sustainably knowing that our purchases are making a positive impact.
“Together, we can make conscious shopping the new normal.”
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