Why are more sustainable products more expensive?
As consumers, we have power in our purchasing choices, impacting things like our daily lives, the market, the environment, workers, and more. More sustainable products and services tend to have many benefits to the aforementioned impact areas, but they often come with a price. There are many reasons for that which I will explain in this post.
The three main reasons that more sustainable products and services tend to be more expensive are:
- Demand is still low
- Higher quality equals higher manufacturing costs
- Sustainable in economic and social terms as well
All these reasons have more to them, so we need to break them down.
Lower demand
The demand for more sustainable products and services is on the rise but is still lower than the demand for more conventional ones. Ironically, this is partially because the cost scares people away, creating a cycle of lower demand and higher prices.
Additionally, the process for manufacturing, handling, and doing the more sustainable products and services can differ greatly from their more conventional counterparts, meaning that companies would have to change their equipment, training, etc. to suit these. This means an initial investment for the companies, something they are not willing to do unless the demand is high enough.
Higher quality
More sustainable options will often have a higher quality than their conventional counterparts. This could be in the form of organic foods, organic materials, reusability and durability, less resources-consumption during its lifespan (e.g., a water and energy-efficient washing machine), etc. This will often save you money in the long run, but I will elaborate further on that in a different post.
Sustainable in all three factors
Sustainability includes three main factors: environmental, economic, and societal. Many companies pursuing sustainable options will value all three of these factors, meaning they will make efforts to reduce their environmental impact, they will pay their workers fair wages, and they will take their societal impact into consideration. All of these factors cost more, but will pay off in the long run, especially as more people will then be paid fairly and will be able to afford the cost of living a lot easier, which will later spread to be the whole world’s standard.
Sustainable purchasing may cost a little more upfront, but includes many benefits. Not to mention the potential for the cost to decrease through higher demand. Consider your options next time, because you do hold power in your purchase, and it may benefit you in the long run.
Written by Zein Tynon, Class of 2024
Sources:
Eric. (2021, April 19). Why are Eco-friendly products more expensive? The Sustainable Living Guide. https://thesustainablelivingguide.com/why-are-eco-friendly-products-expensive/.
Photo Credit:
Photo by Jess @ Harper Sunday on Unsplash