A few years back, sustainability was a niche approach in the retail business. But, today, there are many renowned businesses that have undertaken corporate social responsibility or CSR initiatives to lessen environmental impact.
Why should you invest in sustainable retailing?
Consumers look for sustainable options today. Buying eco-friendly products without excess waste is what we need today. Brands need to put incredible efforts to be more sustainable. Even though small scale businesses struggle to incorporate sustainable options, there are certain initiatives that are easily adaptable for businesses of every size.
TIPS TO MAKE YOUR RETAIL BUSINESS SUSTAINABLE:
1. Be mindful of everyday retail practices:
- Use energy-efficient equipment, lights, and appliances.
- Reduce the amount of paper usage in your organisation.
- Digitise your inventory management procedures.
- Switch to digital invoices and receipts.
- Dispose of the waste products properly. Always ensure to dispose of the trash in the right bins.
- Follow local guidelines around recycling and composting.
- Choose to reuse and recycle to minimise trash and donate things that are no longer required in your business to the needy.
2. Opt for sustainable packaging options:
Packaging is a necessity for every retail business, be it a physical store or e-commerce retail presence. There are many conventional packaging materials that are hazardous to the environment. Researchers believe that the increasing levels of plastic pollution are degrading our ecosystems and wildlife.
Ensuring eco-friendly packaging adds credible evidence of a sustainable outlook. Today, consumers prefer sustainable packaging over plastic ones. Start by using environmentally conscious packaging that can reduce, reuse and recycle.
3. Inform and encourage customers to offset their impact:
When people are aware to be more sustainable, they might turn to their purchasing decisions as well, so as to make a mark. Studies believe that 88% of consumers want the brands to help them lower their footprint.
Helping the customers ‘offset the impact of their own retail habits can prove to be highly beneficial to your sustainability efforts. Make people feel more empowered as consumers and this will have an impact in their daily routine and ensure confidence about your business being different.
4. Incorporate sustainability in your brand story:
Let your efforts be seen. Showcase to your customers how they and the planet are benefitted from using your sustainable products by supporting your business. Your customers choose your products for your own brand image and not just for their sustainable approach. And this is when you have to show your consumers how sustainability goes hand in hand with your selling points as a retailer.
5. Avoid ‘greenwashing’:
Greenwashing is an old trend, but it has become more important as sustainable brands and products become more popular. Greenwashing occurs when certain businesses make misleading claims about their sustainable business model or the products they make. Proving your retail business be sustainable needs solid evidence as faking will not help you in the long run.
Always ensure that your products are well labelled. Try to get third-party certifications as most industries have authoritative bodies that help to maintain the quality of the products and their ethical standards.
In these past few years, sustainability has developed into a powerful value proposition to conscious consumers. This proves that you are well aware of the social and environmental issues facing our society and want to alleviate a few ways to contribute as a retailer and this will not only benefit us but our planet as well.
Are you incorporating sustainable practices in your retail business? Share with us in the comments below.