Customers across the globe are starting to put their money where their mouths are when choosing eco-friendly products and services.
In fact, one IBM study in 2022 found that 49% of customers worldwide have recently paid a premium—an average of 59% more—for a product branded as sustainable or socially responsible.
What does that mean for event planners and tent rental firms? They must pay attention to their business practices and merchandise so customers can see they’re doing their part for the environment. And in some instances, that may be challenging.
“Today’s executives walk a tightrope, balancing the long-term imperative to protect the planet with the short-term need to preserve the bottom line,” notes researcher Jane Cheung in the IBM report. “In the race to reduce emissions, consumption, and waste—while protecting biodiversity—everything is on the table. Supply chains are being recalibrated. Source materials are evolving. Travel requests are carefully scrutinized.”
In this piece, we’ll explore how tent manufacturers, rental services and event planners are finding a balance between sustainability and profitability.