Sustainability’s Impact on the Retail Industry

Sustainability has become increasingly important in everyday the lives of consumers.  Products that are “green” are more appealing to consumers and gives the feeling a being a part of something good.  Communicating the environmental benefits of your product will attract customers and create a positive image for the company.

Retail businesses are realizing that sustainability is a concept that needs to be implemented into the business or else risk the loss of appeal and consumer loyalty.  Integrating sustainability efforts will also save money for the business.  Decreasing the dependency on natural resources and materials in all aspects of the business reduces the effect of price fluctuations and market volatility (Boynton 2012).  Employees will also seek out businesses that are highly involved in sustainability efforts because they too want to make a difference.

It is important to start small and keep these efforts simple.  Strengthening the relationships with the closest business partners can create a great opportunity to increase the efforts effects.  As the company starts to build on more aspects, the relationship with consumers and other business partners will strengthen and deepen.

 

Boynton, Jen. (2012, January 26). Sustainability in retail: not an oxymoron. Retrieved from                 http://www.triplepundit.com/2012/01/sustainability-retail-oxymoron/

Joshua Saunders. (2010, October 1). 3 Ways to improve your retail bottom line with sustainability [Web log post]. Retrieved from http://www.greenbiz.com/blog/2010/10/01/3-ways-improve-your-       retail-bottom-line-sustainability?page=0%2C1

Kaye, Leon. (2010, May 3). Is it possible to measure sustainability within the retail industry? Retrieved  from    http://www.triplepundit.com/2010/05/measuring-sustainability-retail-industry/

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