A STUDY ON GREEN CONSUMERISM INFLUENCING BUSINESS STRATEGIES

Abstract

It has been a formidable movement by green consumerism, and the movement has been influencing the business strategies in the contemporary business practices in the various spheres around the world. The growing concern about the environment, the challenge of climate change and the growing demand on sustainable products has had an immense effect on the consumer purchasing pattern. The paper is directed at the discussion of how the green consumerism must compel the organizations to rebrand their business model, marketing strategies, supply chain management and product development cycles. It explains the extent to which the companies go to incorporate the environmental responsibility in the strategic decision making so as to meet the evolving consumer needs and environmental stresses. The paper is conceptual and analytical and it is based on the existing literature, market trends, and practices that are in practice in relation to corporate sustainability. Findings have revealed that any enterprise that responds to the plea of green consumers will be rewarded competitively by being branded with image, customer loyalty, economical, and regulations compliance. Yet, the problems of risks in greenwashing, the higher expenses as a start-up, and the absence of the unified eco-labeling, as well as the lack of consumer trust, are the challenges to the full adoption. As it has been concluded, the idea of green consumerism is neither a temporal phenomenon, but a shift in the bonds within the market, pushing the companies to make sustainability their basic principle of operating. To the extent that companies are indeed correlating their activity with the principles of the environment, the latter are more likely to turn out profitable in the long-run and earn the loyalty of stakeholders. The research would provide managerial, policy, and academic benefits to individuals who would be interested in understanding the emergent nexus between environmental consciousness of consumers and business transformation with sustainability.