5 Ways Retailers Can Jump Into Sustainability
Easy ways retailers can make their business more even sustainable.
Consumers, especially the younger ones, buy products from the retailers that focus on sustainability across the entire supply chain.
Two things that customers hate the most are- “Out of the stock” and “Unethical and unsustainable retail practices.” Responsive retailers avoid both.
Out of the stock and sustainable practices have put the pressure on the manufactures to produce products at a faster rate with fewer resources.
To achieve both, many manufactures and retailers are now using recycling and reuse methods. For example, Australian surfing brand Ripcurl permits customers to return old wetsuits in some of their stores so that they can be recycled. H&M, the world-leading fashion brand offers vouchers to their customers in exchange of old clothes.
The Path to Sustainable Retail: 5 Steps to Take
Retailers often struggle to find ways of reducing the carbon footprint. By providing high-quality based products, retailers can attract an audience, but this practice is not enough to support sustainability. Retailers throughout the globe basically have five steps to be more sustainable.
1. Go Paperless
Your business may use tons of paper; one of the best ways to cut back is by emailing receipts. According to research, 250 million gallon oil, 10 million trees and 1 million gallons of water are used to create receipts just in the US. By emailing receipts, you are not only saving the natural resources but also offer your customers hassle-free shopping experience.
2. Cut Waste Out of Your Manufacturing Process
By monitoring your supply chain, you can reduce the waste that produces in the manufacturing process. If you manufacture any of your own good, analyze your waste, and search for the approaches that support sustainability, like, reusing and recycling old products. If you resell the premade goods, request your vendor to include a suitability practice in the business.
3. Look for Clean Energy Options
Being more energy-efficient in a retail business, you can lower down the carbon footprint rates. This practice doesn’t only save the earth’s resources but also help you save money. According to the Small Business Administration, a 10% reduction in energy costs for the average full-line discount retailer can boost net profit margins by as much as 1.55 per cent and sales per square foot by $25.” I suggest you to contact to energy utility supplier to conduct an energy audit on your store.
4. Recycle Old Goods
The best way to achieve sustainability in a retail business is by collecting unwanted items that can be recycled or donated to a Non-Profit Organization that can use them. For example, Nike’s Reuse-A-Shoe collects used items that are repurposed into the material to manufacture running tracks, playground and courts.
5. Be Transparent
Transparency and realness are keys when it comes to putting sustainability at the front line of the business. You are allowing consumers to lower down the carbon footprints by purchasing from your store because you care about earth and customers’ expectations too.
Final Say:
A sustainable business will give two things- Respect from the customers and love from the earth.
How have you made steps towards suitability in your retail business? Please share your views with me.
