CAPABILITIES | 10 things you need to know about sustainability in retail
April 14, 23 – It is no secret that sustainability is already one of the top priorities for retail and brands. The weight it has acquired in consumers’ purchasing decisions is overwhelming, and more importantly, it will grow exponentially in the future. As consumers demand more brand commitment, retailers must rethink their point-of-sale solutions and adopt initiatives to deliver on these sustainability goals.
Here are 10 facts about sustainability in retail that will help you understand the importance of change:
- Nearly 50% of consumers globally are choosing to buy from brands with a clear commitment to sustainability.
- 40% of brands are investing in using more sustainable packaging.
- 60% of brands are investing in creating products that align with their company values (i.e., launching products that are green or social impact-focused)
- 35% of brands are investing in establishing long-term sustainability goals and targets.
- To improve customer trust, 41% of brands are investing in being more transparent about their sustainability vision, goals, and progress.
- 44% of consumers globally are more likely to buy from a brand with a clear commitment to sustainability.
- 46% of customers are more likely to purchase a product online if they’re able to recycle the product packaging.
- 50% of consumers said the ability to recycle the product once they’re done using it influenced their decision to purchase from a specific brand.
- The same goes for retail employees choosing the brands they want to work for. This year, 35% of brands say they’re investing in causes employees care about, including sustainability and social responsibility, to improve recruitment and employee retention.
- 42% of consumers said knowing that a brand is actively working on reducing its carbon footprint is important when deciding to purchase a product.