NWG // SUSTAINABILITY REPORT
Consumers and end-users Material impacts, risks and opportunities The primary impacts and risks for consumers and end-users of New Wave Group ' s products are related to quality and the availability of information regarding product origin, composition, and waste management.
Products that fail to meet sustainability standards or are of low quality can lead to consumer dissatisfaction, potentially damaging the company ' s brand and reducing customer loyalty. Poor product quality can also result in higher rates of returns and complaints. Additionally, low durability and fast product wear can accelerate replacement cycles, increasing resource consumption and waste generation, which negatively impacts the environment.
Products containing harmful chemicals, such as dyes, plastic coatings, or cleaning agents, may pose health risks to consumers, including allergic reactions. Such issues could have serious consequences for the company ' s reputation and consumer trust.
If New Wave Group and its companies lack transparency in communicating their sustainability efforts and product origins, consumers may feel uncertain about their purchases. This can reduce trust and market share, especially as demand for sustainable options continues to grow.
The increasing demand for sustainable, ethical, and transparently produced goods presents both risks and opportunities. Adapting to this demand by investing in sustainable production, transparency, and circular business models can create a significant competitive advantage. Failure to adapt risks loss of market share and competitiveness.
Stricter regulations regarding environmental impact and sustainability, such as ESPR( Ecodesign for Sustainable Products Regulation), can pose risks if the company fails to stay informed and comply with these requirements. Non-compliance may result in fines, legal action, or reputational damage.
Policies and guidelines related to consumers and end-users The policy directly affecting consumers and end-users is the Group ' s shared Privacy and Data Protection Policy. Additionally, consumers and end-users are affected by each subsidiary’ s guidelines and procedures for handling claims. Other guidelines indirectly affecting consumers and end-users include the Supplier Handbook, Quality Programs, the Chemical Restrictions List, and various compliance routines.
Processes for engaging with consumers and end-users Engagement with consumers and end-users primarily occurs through:
# Customer service at each company, available via phone and email.
# Social media.
# Product information provided in catalogs and on websites.
# Marketing initiatives.
Processes to remediate negative impacts and channels to raise concerns The subsidiaries that are owners of the respective brand and responsible for product development have clear procedures for handling deviations and claims. When problems arise, consumers and end-users can contact the seller of the product, whether through a retailer or the customer service team of the respective company.
Additionally, consumers and end-users can report issues directly to New Wave Group via the Group’ s whistleblowing function.
Actions on handling impacts, risks and opportunities related to consumers and end-users Efforts are closely linked to the Group’ s initiatives addressing climate change( see page 70-72), resource use and circular economy( see page 76), and workers in the value chain( see page 79). These actions are rooted in increased transparency to maintain consumer trust in the future.
Targets related to consumers and end-users New Wave Group’ s primary targets concerning consumers and end-users include increasing transparency and providing more accessible information about products, their composition, origin, and usage. This will be achieved through the development and implementation of digital product passports, a digital documentation that contains important information about a product ' s components, material, durability and recycling instructions.
080 // ANNUAL REPORT