Nature Needs More is delighted to introduce HowToSpendItEthically.Org a new online magazine to help consumers take a closer look at the LEGAL trade in endangered species. The aim of the publication is to help consumers know their purchasing behaviour is helping to protect the natural world and not adding to the extinction crisis.
As a species becomes rare, sadly it becomes valuable. Some of the world’s most endangered species are legally traded in lucrative and exclusive industries. According to Bain & Company’s Fall–Winter 2018 Luxury Goods Worldwide Market Study, the overall luxury market grew 5% in 2018, to an estimated US$1.32 trillion. Few consumers would realise that the wildlife trade is one of the most lucrative trades in the world. In 2016 it was estimated to be worth €100 Billion to the European Union alone.
Endangered species contribute significantly to the value of the luxury market, through everything from personal luxury (clothing, accessories, Jewellery, beauty, wellbeing) to high-end property development, furniture and homewares, luxury hospitality, fine dining and gourmet food. Those still reeling from watching Tiger King may be pleased to know that articles on the legal exotic pet industry (from parrots and reptiles all the way to big cats) and luxury travel will also be covered by HowToSpendItEthically.Org
Huge profits are being made from exotic and endangered species, including by some of the world’s top luxury brands. Since 1970, 60% of all land animals have disappeared and a report published in May 2019 confirmed that trade is the second biggest threat to species survival. We will explore just how much businesses are making from wildlife species and botanicals, and look at how this global legal trade in endangered species is policed with a tiny budget and very little support from industry.