FIVE MINUTES WITH ...
“ RETAILERS DON ’ T NEED TO SACRIFICE AFFORDABILITY OR PROFITABILITY TO MEET THEIR SUSTAINABILITY GOALS ”
further sustainability objectives . For example , analytics can be used to reduce inventory , identify underperforming areas , and recommend solutions to increase efficiency . Using real-time data and intelligent integrated planning , consumer products companies and retailers can customise the right assortment mix , and have the right inventory for each store or channel . And autonomous vehicle delivery – although early in development – could transform the lastmile delivery cost model .
Q . HOW CAN FIRMS BEST DEVELOP SUSTAINABLE PRODUCTS ?
» Sustainability can be embedded throughout the entire product
The Next Factor with Lindsey Mazza
WATCH NOW lifecycle , starting from the design process and selection of materials to end-of-life management . To address Scope 3 emissions , businesses need to consider the system as a whole . It ’ s also important to conduct a life-cycle assessment to evaluate the environmental impact of a product – from raw material extraction to disposal – to identify areas where the environmental impact can be reduced .
Q . CAN RETAIL BE BOTH SUSTAINABLE AND AFFORDABLE IN TODAY ' S WORLD ?
» Definitely , and it must be . Retailers need not sacrifice affordability or profitability to meet their sustainability goals . Our own research shows 41 % of consumers globally are willing to pay more for a product they believe to be sustainable . So , while consumers are keen to buy sustainable products , they are not willing to pay more . Brands and retailers must respond to consumer concerns by keeping prices fair – providing affordable sustainability will therefore be key . Consumers are
26 March 2023