By Kristin Naragon, Chief Strategy Officer at Akeneo

Ever noticed how our shopping habits have been shaped by years of clever marketing? We've been trained to chase deals, add extras for free shipping and indulge in free returns, often buying more than we need. This behaviour has led to mountains of waste and a hefty environmental footprint. But change is on the horizon.

Why now?

The World Wildlife Fund (WWF) has warned that if our consumption rates don't change, well need the equivalent of two planets to sustain us by the mid-2030s.  And according to Annie Leonards documentary The Story of Stuff, only one per cent of stuff we buy is still in use six months after its purchase.This alarming statistic underscores the urgent need for a shift in our consumption patterns.

The movement towards change

Theres a growing movement of people and businesses pushing for more responsible consumption. Here are a few examples:

• Ad campaigns: Patagonias Dont Buy This Jacket campaign is a prime example. This bold move encouraged consumers to think twice before making unnecessary purchases, promoting sustainability over consumerism. More businesses are jumping on this trend, promoting less consumption and more sustainability.
• Buy Nothing Day: Started by Ted Dave in 1992, this anti-Black Friday movement now has millions participating worldwide to protest overconsumption. Its gained so much momentum that even lawmakers in some European countries are considering banning Black Friday because it causes "resource waste" and "overconsumption."
• Sharing economy: From $14 billion in 2014 to an expected $335 billion by 2025, the sharing economy is all about maximising the use of goods already in circulation. Services like Airbnb, Uber, and various peer-to-peer lending platforms exemplify this trend.

Shifts in buying behaviour

Consumers are getting smarter. Akeneos 2023 survey found that two-thirds of shoppers spend more time researching products now. They want to ensure what they buy meets their needs, reducing the need for returns. Plus, 76% of buyers feel good supporting companies addressing social and environmental issues. Our eco-conscious Gen Z and Millennial friends are 27% more likely to buy from brands that care about the planet.

The rise of minimalism

Minimalism is another significant trend. More people are prioritising experiences and relationships over material possessions, actively seeking to declutter their lives. According to a PwC survey, 69% of consumers plan to cut back on non-essential spending over the next six months, while 15% said theyre going to halt non-essential purchases altogether.

How companies are responding