New Research on Cotton Made in Africa
Sustainability Turns Trendy
A new study by Accenture confirms the value of Cotton Made in Africa´s “Business&Development” approach: 85 percent of German consumers would pay more for clothing demonstrably manufactured under environmentally friendly and fair working conditions. A study among 1,013 German consumers aged 16 and over conducted for Accenture by Forsa market research shows they are willing to pay an average of 16 percent more for such clothing than for conventionally produced garments.
The influence of the theme of sustainability on consumer behavior is likewise growing. One-fourth of those polled declared readiness to pay prices more than 20 percent higher – even though one in three wants to spend less in the future on total clothing expenses. That attitude has consequences: Companies who ignore the trend to sustainability can expect to lose customers. 77 percent said they would stop buying even their favorite brands if they knew manufacturers were not producing under sustainable conditions.
“Sustainable products are a huge trend in retail and manufacturing,” Gerhard Hausruckinger says, Accenture´s head of Trade and Consumer Goods. “Companies who expand their product lines to include these products can differentiate themselves from competitors and gain new customers. An ever-increasing number of consumers want to have a choice.” He adds that consumer awareness is dynamic. “If you ignore that, or think it´s just fads, you risk losing customers and revenue.” Instead, it is vital to react to changing consumer needs.
Dr. Johannes Merck of the Aid by Trade Foundation also sees his beliefs confirmed by the study. “Cotton Made in Africa is not a charity. It activates market forces to reach development policy goals, supporting sustainable development in the most positive way. It´s a new form of corporate responsibility, foregrounding pragmatic help-to-self-help, by entrepreneurs for entrepreneurs – in this case, Africa´s small farmers.”