Sustainability is growing in popularity among consumers and business alike. 73% of CXOs across the retail industry have increased investments into sustainability measures since 2022. On top of this, a growing number of consumers look for brands that emphasize sustainability in some way. Keep reading to learn trends surrounding sustainability for retail stores.
Changing Consumer Preferences
Amidst this cultural shift towards sustainability, most consumers are putting their money where their mouths are. 79% of consumers are changing their purchase preferences based on a company’s social responsibility, inclusiveness, or environmental impact.
This is a sign to think about the brands your retail store carries and if they fit into a sustainable lifestyle. Do the brands you carry come from companies implementing sustainable practices? Are they packaged in sustainable materials? Can consumers recycle the products once their finished using them?
If you find yourself answering “no” to these questions when looking over the products in your store, you might want to consider incorporating sustainable products and brands into your inventory. Check out our last blog post that features sustainable retail brands for a few options you could get for your store!
Train Your Employees to Answer Sustainability Questions
As more consumers look for sustainable products and brands, it’s inevitable that some will ask your store employees various questions about the products in your store inventory. This is a great opportunity to train your staff on how to best answer their questions. Familiarize them with the sustainable products you carry and let them get comfortable answering questions surrounding them. Make sure they’re aware of the trends surrounding retail and give them pointers on how to cross-sell your store’s sustainable products when possible.
Make It Easy for Shoppers
Precision retail practices in your store can help consumers searching for sustainable products. Implementing a “buy online, pick up at curb” (BOPAC) program can be a huge boon for your store as many consumers today search for products online before making a purchase in a physical retail location.
Another way to help the consumer is to reimagine your store’s layout can help make it easier for consumers by placing sustainable products in a designated area.
Sources
https://www.deloitte.com/global/en/Industries/consumer/analysis/sustainability-in-retail.html
https://www.taylor.com/blog/sustainable-business-practices-in-the-retail-industry
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