Sustainability In Retail: Good For Business, Great For Humanity
Consumers, especially younger ones, are seeking brands that publicly champion values that align with their own. They’re demanding socially conscious mission statements, checking the political views of executives, and pressing companies to make both their products and businesses sustainable. Their concerns are not limited to materials and packaging. They’re looking to buy from companies that focus on sustainability across the entire supply chain and all business operations. But creating and meeting sustainable brand goals is more than good PR—it’s a moral responsibility, and I predict that the brand boycotts we’re beginning to see over social issues will soon become major considerations for all responsible retailers and brands as they set strategies around sustainability. A 2018 survey from data platform Euclid found that “52% of millennials and 48% of Gen Xers feel it’s important that their values align with the brands they like,” while 35% of baby boomers surveyed felt the same way. For retailers and brands, focusing on sustainable practices is not only crucial to protect the environment, but also a key way to attract younger generations of consumers and drive long-term brand loyalty. Read more at Forbes.