Switching to Green Packaging: What Is in It for Your Business?
Did you know that environmental degradation has caused the extinction of over 1 million living species in the world? This is one of the main reasons why businesses have come under the radar of government and other regulatory agencies. Packaging is an aspect where businesses majorly contribute to environmental degradation. Earlier, materials such as plastic […]
Did you know that environmental degradation has caused the extinction of over 1 million living species in the world? This is one of the main reasons why businesses have come under the radar of government and other regulatory agencies. Packaging is an aspect where businesses majorly contribute to environmental degradation. Earlier, materials such as plastic were widely used by businesses. However, with the ‘go green’ movement on the rise, companies are looking for green packaging options to do their part. Though switching to sustainable packaging methods would mean a higher initial investment and change in culture, it would bear fruit in the long run. Eco-friendly business practices demonstrate compassion and awareness, which can be a persuasive factor in helping customers choose between you and the competition. In addition, companies who invest in green packaging also stand to save money in the form of shipping costs, material costs, and reduced waste. Let’s take a look at the advantages that business can gain by adopting sustainable packaging techniques:
Reduce environmental footprint
The goodwill of a business depends largely on their ability to show their customers that they are a social entity and care about the environment. Embracing green packaging methods can greatly help in establishing this. Eco-friendly packaging means much more than recyclability. Companies need to understand their packaging’s life-cycle. It extends from the raw materials and techniques used, all the way through to the impact and practicalities of disposal or reuse.
Reduced logistics costs
Thought the cost of packaging materials could be slightly higher when compared to non-degradable counterparts, companies can save greatly on other aspects. First, it greatly reduces the amount of raw materials used to create the packaging. Reduced materials also mean reduced effort at the end of the packaging life-cycle when it comes time to dispose or reuse it. Furthermore, the smaller it is the easier and cheaper it is to move products from one place to another. Consider all the shipping between the factory and the store then look at how much your business paid for it. It’s likely to be a big figure and green packaging can significantly reduce it.
Improved brand image
As mentioned earlier, companies that abide by environment-friendly practices such as green packaging stand a bigger chance of getting into the ‘good books’ of the customers and the regulatory authorities. By switching to sustainable packaging, not only can businesses enjoy hassle-free business operation, they can also ensure that they create a good brand image in the market. Environmental sustainability has become increasingly popular among millennials who form major drivers of growth and profits in several industries. Hence, with the help of green packaging methods companies can easily capture the support of this section of the target customers.
Easier grants and incentives
Grants, incentives, and favorable loan rates are sought after by almost all businesses. Governments and independent bodies offer incentives to invest in energy efficient and green technologies. Using these funds companies can easily buy equipment to reduce their carbon footprint. Moreover, in most cases, these grants and loans are offered at a no-interest or a low-interest pattern.