Print research organisation Quocirca has said vendors need to offer more clarity around the sustainability credentials of their products, or risk losing their competitive position.
According to Quocirca’s Sustainability Market Trends Study 2023, 69% of surveyed employees from SMBs, midmarket organisations and large enterprises said their companies formally track the environmental performance of their print supplier. A further 95% said their businesses sustainability goals influence their choice of supplier, while 46% said it impacted their choice to ‘a great extent’.
A related finding showed that only 31% of organisations are extremely satisfied with the sustainability information provided by suppliers, indicating that 69% feel vendors could do better. The report noted a growing urgency among companies to implement sustainability strategies, which are increasingly influencing print infrastructure buying decisions, meaning it’s more important than ever for suppliers to deliver on sustainability information.
In response to growing demand, the study found 77% of suppliers are accelerating their sustainability strategies, rising to 81% in Germany and 84% in the US.
The study also looked at the main drivers towards implementing sustainability initiatives. It showed that improving operational efficiency, saving money, and meeting industry standards are the top three reasons organisations cite for making environmental performance investments.
Further highlights from the report include:
- Seven in ten decision makers believe it’s important that suppliers provide a range of sustainable products and services.
- 80% said they are willing to pay a premium for products with environmental features, despite the cost of sustainable products being cited among the top challenges for organisations to reduce their environmental impact.
- 31% are using remanufactured or refurbished hardware, or leveraging environmental analytics.
- 70% said the digitisation of paper-based processes was a “central pillar of sustainability,” second only to the adoption of a cloud platform (75%).