Many recent supply chain issues have arisen from a lack of visibility. Supply chains are highly complex and involve involves many stages and stakeholders. As a result, global brands are quickly realizing that visibility to their supply chains reduces said complexities, in addition to offering major business benefits.
Specifically, a visible supply chain appeals to millions of new customers in Generation Z that are actively investing in brands that represent change and support the causes they care about.
Gen Z is actively investing in sustainable brands. According to a November 2021 study by First Insight and the Baker Retailing Center at the Wharton School of the University of Pennsylvania, 75% of Gen Z consumers have said that sustainability is more important than brand name when making a purchasing decision, and the vast majority of Gen Z is willing to pay more money for sustainable products. And meeting their demands is important: projections anticipate that Gen Z will support over $3 trillion of spending in 2030 across six focus markets, an approximate six-fold increase on 2019.