Brands Today: Collaborating for a Better World

Let’s talk about something that’s constantly on everyone’s minds: sustainability. In today’s world, we all know that we need to work together to solve the world’s problems. And guess what? Brands are finally starting to catch on.

The pandemic has made us appreciate the role that brands play in our lives, and it’s created momentum for change. But it’s not just about competition anymore — it’s about collaboration. That’s why so many businesses are banding together to create solutions for social and environmental challenges.

In fact, according to a survey by Wunderman Thompson Data in February 2021, 86% of global consumers believe that collaboration is key to solving world problems. And 89% agree that companies, countries, and individuals should work together to tackle sustainability issues. It’s not just a trend, it’s becoming a business imperative.

From circular fashion to climate action to authentication, there are a number of pacts being formed to address these issues. And some of the world’s biggest brands, like Google, Netflix, Microsoft, Amazon, and more, have already signed up to take the pledge. Clothing industry players are committing to the circular economy, the food and beauty industry are seeking to reduce waste and use more planet-friendly packaging, and others are working together to track their carbon footprint.

But it’s not just about doing the right thing – it’s about doing the right thing that’s right for the whole planet. Sustainable products are a growth driver resonating with consumers, and consumers are willing to pay more for them — so not only is it good for the planet, it’s good for business.

Brands have the ability to meet rising expectations and partner with other players in the value chain. Collaboration is key, and there are four guiding principles:

1. Collaboration based on common concerns and purpose;
2. Collaboration that is mutually beneficial;
3. Collaboration with a focus on transparency, accountability, and responsibility; and
4. Collaboration with a commitment to real action towards a more equitable, sustainable future for everyone.

At the end of the day, customers are loyal to brands that care about the things they care about. Brands that choose to make a difference by setting aside their competitive practices to work with others for the betterment of the planet are standing out. And brands that balance purpose and sustainability at a fair price point stand to win greater market share.

So, what are you waiting for? It’s time to join the movement and work towards a more sustainable future for all of us. Let’s band together and make a real difference!

10 April 2023