Navigating Sustainable Progress in Challenging Economic Conditions
Brands Shrink Wallets Amid Recession, Opt for Green Strategies
Stretched budgets got marketers tightening their belts to meet their sustainability goals and climate commitments in 2023. Chief marketers from Reckitt and Merrell recently sat down with Adweek's sustainability editor Kathryn Lundstrom for a chat on how they're working hand in hand with their sustainability counterparts to keep the climate conversation buzzing.
Reckitt: Reinventing the Game
Fabrice Beaulieu, Reckitt's CMO, CAO, and chief sustainability officer, delved into the ever-growing consumer demands and the pivotal role of sustainability in driving growth for consumer goods giants.
Feel overwhelmed by the scale of the challenge? If so, you're not alone.
Reckitt's renewed business model intends to transform it into a more efficient global player in the consumer health and hygiene sector. This transformation centers around a heightened focus on innovation and market execution that results in sustainable growth. The strategic shift also includes increased investment in research and development and targeted premium products that cater better to eco-conscious consumers - a move that hints towards indirect support of emissions reduction goals.
Moreover, Reckitt streamlines its operations by exiting less profitable segments to free up resources for sustainable growth areas and lower the carbon footprint associated with those segments. Although the specifics on emissions reduction tactics in marketing aren't explicitly stated, the focus on innovation and premium products should translate to greener marketing moved forward.
The browning of palm oil prices due to environmental disruptions in producing countries like Indonesia and Malaysia poses a challenge, but Reckitt's no-quit stance highlights their undeterred commitment to sustainable sourcing practices crucial for reducing emissions in their supply chains.
Merrell: The Green Quest
Search results didn't turn up specific details on Merrell's 2023 marketing strategies that connect sustainability and their emissions-reduction targets. However, keep an eye out for updates - we'll certainly be!
In summary, Reckitt integrates sustainability into its marketing and business approach by stressing innovation-driven growth, operational efficiency improvements, and sustainable sourcing practices that indirectly contribute to meeting emissions reduction goals. Explicit details tying marketing strategies to emissions reduction goals are scarce but can be inferred through their focus on innovation, premium products, and supply chain sustainability. Merrell's 2023 sustainability marketing strategies, on the other hand, weren't available in the search results, so stay tuned for updates!
Science and finance intertwine as Reckitt's strategic shift towards innovation and sustainable growth in environmental science means increased investment in research and development, aiming for greener marketing strategies that could further reduce emissions. Meanwhile, Merrell's 2023 green marketing tactics, though not explicitly explored, are expected to align with their commitments to emissions reduction targets, a testament to the influence of science and business on sustainability.
