The United Nations’ theme for World Environment Day, ‘Solutions to Plastic Pollution’, couldn’t be more apt given the reckoning many retailers have been facing as the shift to sustainability gains pace. Whether it is materials wasted during the manufacturing process or excess packaging, brands have been increasingly examining how they can minimise materials. Not just for the planet’s sake, but for their bottom lines, too.
Setting aside our collective obligation to protect the only planet we have, going green is simply good business. Already, 68% of consumers wish brands had better environmental practices in place, with nearly as many (65%) citing retailers’ ethics and morals as key factors in purchasing decisions. Even among B2B sellers, seven-in-10 (69%) report being more likely to buy from suppliers with a purpose beyond commerce.
With customers growing more wary of who they purchase from in an effort to be more environmentally friendly themselves, aligning with their demands is crucial to building long-term loyalty and trust. This means going beyond splashy statements and making sure you are truly acting. Unsustainable plastic packaging can be swapped out for paper, glass or more biodegradable materials, for example. In addition, excess material usually left on the factory floor can be upcycled into entirely new products.
Retailers must already be taking steps – no matter how small – to improve sustainability throughout their supply chains and clean up their own operations. Too often there’s a fixation on devising a ‘perfect’ solution, when in reality it only delays progress and action. Businesses need to look at the steps they can take today to plan for tomorrow – and actually take them.
On top of minimising plastic use there is a whole host of other things retailers can already be putting in place to reduce their environmental footprints. Tools exist that allow firms to monitor suppliers’ emissions so they can better track their Scope 3 performance, and others use artificial intelligence to devise the most energy efficient fulfilment routes. The stakes are far too high for sustainability to be treated as a one-off priority, and green practises must be baked into all areas of an organisation and made a key consideration in decision making across the board.
In addition, with so many potential options centring around improving efficiency, businesses should be embracing this, especially given the emphasis the weakened economy has placed on maximising performance on limited budgets. Once markets and customer sentiments return to normal, these savings could even be passed onto shoppers as a differentiating factor.
The environmental crisis we’re headed towards threatens to upend markets across the world if not addressed immediately and collectively. It’s a shared responsibility that governments, organisations and brands must stand up for. So, whether it’s ditching clear plastic windows on packaging or calling upon AI, the new hot technology on the block, use World Environment Day to think about the easy wins. Businesses don’t have to spend thousands and reimagine their entire strategy, there are small steps we can take each day to really make an impact.
It may seem small, but if every business – in retail or otherwise – did the same, the overall impact would be immense.
