“ Every company has the potential to change the world, and will not survive if it doesn’t” [Sir Richard Branson]
- Are you leaving this task to your innovation department?
“Iconic brands are increasingly out of favour with US consumers whose preferences and priorities have evolved” [Rabobank]
- Are you staying ahead or just catching up with consumers' new demand patterns?
“[…] Radical innovation in products and processes often – in fact usually – comes from outside the existing market structure” [John Kay, economist, writer, business consultant]
- Has your internal “innovation department” found disruptive solutions yet?
“The predictive consumer no longer exists” [The Guardian]
- How are you engaging with your customer? Are you still relying on surveys that were created with the old paradigm in mind?
How we can help
Changes in customers’ demand patterns are felt across a variety of industries. Food, cosmetics, and household cleaning products are good examples of this trend. The reach, however, is much broader. Our consumers finish and furnish their houses with more natural products. They abandon materials from their kitchens and bathrooms that may be considered toxic. They engage with goods and services providers differently. Every day they vote with their £,$, or € affecting the bottom lines of large companies. The changes are measured in billions (just look at the equivalent of $18bn in market share that US food and beverages companies have lost in recent years, or at the impact of disruptive technologies).
It is not always obvious how to respond to consumer trends, as often double-digit growth in sales of new products may not offset a decline in high margin goods. How to create a trend and lead the industry may be even less straightforward, yet it may be one of the key factors in achieving success.
Your consumers are increasingly finding value in aspects that affect the environment, society and their health and well-being. They may “define” ESG differently than you do. If you however, keep insisting on “your definition” you may “become one of the business cases” analysed by MBA students. With such dynamic changes across a variety of industries, skillful identification and interpretation of ESG issues could make a difference between bringing an edge to your core business or making you a laggard in your industry. Yet ESG is seldom interwoven into the core business, let alone perceived as one of the key drivers impacting the bottom line. The link between changing consumer demand pattern and ESG is also often missed.
If you are a B2B Company and think that ESG and all the above does not relate to, or impact you, perhaps it is worth reconsidering. Pressure for sustainable revenues and operations are coming from a number of directions - investors, regulators, competitors to name but a few.
If you are waiting until all the data is available, comparable and standardised, you may miss out on gaining competitive advantages that your competitors may be working on now.
Health Equity Exchange assists by:
- Identifying opportunities brought by ESG megatrends that could be captured by a proactive shift in business models
- Mapping an impact of material ESG issues on your core business
- Bringing together experts from a variety of industries and facilitating the creation of an environment that fosters innovation
- Developing 'links' between the innovative value of sustainability and your core business and financial models
- Assisting in the implementation of TCFD and other Climate and ESG related guidance
- Analysing the relationship between ESG, new trends in the consumers’ demand patterns and their impact on your core business
- Project managing implementation strategies
- Building risk-benefits scenarios of potential innovative responses
- Identifying and interpreting material ESG issues that can bring an edge to core business and the value creation chain
Dana Hanby is the Founder of Health Equity Exchange – a portal that brings experts and users together, fostering innovation through Sustainability and facilitating the development of solutions, which not only respond to but also create new trends. Dana has experience in New Market Entry, Business Expansion and Development with the expertise in Sustainability and Financial Environmental markets.
Her responsibilities have included Global Sales Lead for Energy and Environmental products and services for the second largest derivatives exchange in the World; Development and management of Global ESG implementation program for an industrial PLC; She has also worked closely with the World Bank to put forward financial solutions with the aim of increasing liquidity and efficiency in the Climate Market in her role as Chair of “Ratings and ICaR (Reserve)” Group for the Climate Market and Investment Association.
Dana holds an MBA with the focus on Strategy and Finance and a Masters of Science (EE). She also holds PMI accredited qualifications in Project Management. As behavioural science permeate multitude of sectors – from Financial to Consumer facing Industries, she has also obtained a Diploma in Cognitive Behavioural Therapy and has become a Silver Member of the International Association of Neuro Linguistic Programming and Coaching.