In 2019, successful CBD products are still in their early infancy within the UK/EU market. However, when it comes to CBD, Gen Z and Sustainability, there are key learnings to be aware of. Have a read below and start recycling these insights into your own brand strategy.
THE GEN Z CBD SUSTAINABILITY TAKEOUT
➕CBD brands must be conscious of their environmental footprint to resonate with Gen Z
➕Both major and independent retailers are actively seeking sustainably-made products
➕Failure to align with Gen Z’s values could have significant negative effects on brand awareness and organisational success
➕Focus on a clear social mission, eco-friendly materials and content that actively supports the wider cause
THE MARKET SHARE FOR CBD, GEN Z AND SUSTAINABILITY
According to research from Bloomberg, Gen Z will surpass Millennials in 2019 as the most populous generation, comprising roughly 32 percent of the population. In turn, they will carry the biggest spending power demographic in years to come.
THE GEN Z SUSTAINABILITY INSIGHTS
In a recent survey, Tesla (a company that builds all-electric cars) was listed as one of the “coolest” companies by Gen Z respondents. Tesla was considered cooler than any other automotive brand by a considerable margin.
Gen Z are a “doer” generation. According to a recent study, 37% of Gen Z have volunteered their time or have donated money to a cause they care about in the last year. Furthermore, 26% of Gen Z have boycotted a company that supports issues contrary to their own. Given these trends, Gen Z are clearly willing to engage in environmental activism to support causes they care about.
THE SUSTAINABILITY CASE STUDY
Patagonia (@patagonia) have taken a strong position on social and environmental issues — and made sure it’s consistent with their actions.
In November 2018, Patagonia called out Trump’s corporate tax cuts as ‘irresponsible’ and donated the $10 million they saved from Trump tax cuts to environmental groups.
The company donates a portion of its revenue to environmental causes and uses recycled, “Fair Trade” certified and organic material in its clothing. It also uses solar energy at its company headquarters, and it is one of the founders of the Sustainable Apparel Coalition, a group of companies that has promised to reduce its environmental footprint.
For more cannabis and CBD insights, reports, trends and tips head to our Insights page.