If you tend to have a lead foot when driving, eco mode can help slow you down because it reduces the throttle response and limits how fast the engine can rev.
It adjusts to your vehicle's transmission so that it shifts at lower RPMs, so you may notice that your car shifts into higher gears sooner than in standard mode.
In hybrids and EVs, eco mode maximizes battery usage and overall efficiency. In modern gas and diesel cars, eco mode helps drivers save fuel and reduce emissions.