Consumer Demands (CONT’D FROM PAGE 89)
This insight illustrates the power of knowledge of con- sumers. Brands need to inform consumers about the sus- tainability data of their products, especially if they wish to justify higher prices often associated with more sustain- able products. Sustainability in packaging has become a decisive fac- tor for a significant majority, especially among younger demographics. A survey by Business Wire shows that 79 percent of young consumers are willing to pay more for eco-friendly packaging. Moreover, 70 percent of consumers indicate that prod- uct selections are influenced by sustainable packaging options. These figures highlight the importance for brands to invest in environmentally responsible packaging solu- tions to attract and retain this growing conscientious cus- tomer base. Emphasis on sustainable packaging varies notably be- tween urban and rural communities. Urban respondents are twice as likely to indicate that sustainable packaging influences product choices compared to their rural coun- terparts. Additionally, 61 percent of urban consumers ver- sus 41 percent of rural consumers report that sustainability positively impacts brand loyalty. This disparity underscores the need for targeted mar- keting and product development strategies that address specific values and expectations of different demographic groups, particularly focusing on urban areas where sus- tainability is a more significant purchasing factor. M2S Group Acquires Iconex Labels Business M2S Group, Appleton, Wisconsin, a Wynnchurch Capital L.P. portfolio company, has acquired the label solutions busi- ness of Iconex LLC, Duluth, Georgia, an Atlas Holdings. Paul Charapata will lead the combined business, and Iconex CEO Craig Gunckel has been named to the board of M2S Group.
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TLMI, CELAB Merge Efforts On Liner Recycling Initiative
After several years of operating independent programs to research and identify recycling solutions for silicone-coat- ed label release liner, TLMI and CELAB North America will merge their efforts under a unified TLMI project called the Liner Recycling Initiative (LRI). “The goal of the initiative is to build on the work done to date by both organizations and conduct regional pilots,” stated Linnea Keen, TLMI President. “These regional pilots will qualify silicone-coated paper release liner with known recycling and end markets before scaling the program through a deliberate build out.”
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www.boardconvertingnews.com
September 9, 2024
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