Daily CSR
Daily CSR

Daily CSR
Daily news about corporate social responsibility, ethics and sustainability

Ethical Food Sector Becomes The Consumers’ Choice


A newly published report reveal that more and more people are going for ethical food culture, resulting in a sales growth in the same sector.

Ethical Food Sector Becomes The Consumers’ Choice
Dailycsr.com – 07 January 2016 – The Triodos Bank and the “Ethical Consumer magazine” came together to publish a report, titled “Ethical Consumer Markets Report”. The said study shows that even though the market conditions have not been favourable, the ethical spending trend in on the rise beating all the odds.
Moreover, the ethical sales values also saw a rise of eight percent while “inflation barely rose above 0.5%”. In the meantime the ethical market’s “overall value” reached “£38bn” from its previous figure “£35bn”. Likewise, the sales in the category of “electric, hybrid and other tax-band A-rated cars” jumped up by forty percent amounting to “£7bn”; while solar panel market brought in “£716m”, whereby increasing by twenty five percent.
Nevertheless, the report also reveals that:
“The value of money held ethically fell by 2%, largely caused by accounts being closed or moved from the Co-operative Bank. All other elements in the sector - including savings and investments with Triodos Bank - showed year on year growth. Ethical investment grew by 9% to £13bn. Combined ethical money and ethical spending totals rose from £78bn to £80bn”.
Furthermore, the value of the “food and drink sector” fell for the first time since its inception in the year of 2014, whereby bringing down the Fairtrade sales by four percent. According to the author of the report the market fell for various reasons for example:

“...falling market share at Sainsbury’s and the Co-op, Fairtrade’s biggest supporters in the retail sector, and growing sales at Aldi and Lidl, which have smaller Fairtrade ranges”.
Reviving the sales of organic products proved to be fruitful for the ethical food sector, as it witnessed an overall growth along with a strong performance level in fish sales. The Managing Director of “Triodos Bank”, Charles Middleton commented:

“Every one of has a role to play in tackling the pressing social and environmental challenges facing us, and making conscious choices about how we use our money is one of the most powerful ways each of us can make a difference. This includes the products we buy, the companies we buy from and the banks we entrust our money with.

"The report’s findings are a very positive sign for ethical consumption, demonstrating that despite continuing economic hardship, people are making conscious choices, and at a growing rate.”