The Future of Business and Sustainable Operations
Dean Lindo shares a blog post from his company website that provides insight into the doability of sustainable operations in business.
“Retailers remain under ever-growing pressure from a younger, more socially conscious, and more vocal consumer and employee base to embed values deep into business strategy. A National Retail Federation survey in early 2020 found that consumers prioritize buying from brands that are sustainable and transparent. And despite the many imminent anxieties of COVID-19 in the year since, consumers have continued to be concerned about the environment and sustainability. In fact, the pandemic may have made consumers even more aware of the links between their health and the health of the planet, especially as the rise of online shopping landed the problem of excess packaging quite literally at their doorsteps.
Almost 80% of global consumers we surveyed in January to better understand their priorities and behaviors going forward indicated that the pandemic had caused them to become more concerned about the environment. In all, 38% said this had impacted their buying decisions, although there were some country differences, as detailed here.
The momentum around sustainability has been building, prompting many retailers to vocally set environmental and social responsibility goals. However, actions and results remain messy—both due to a lack of industry-wide benchmarks and deep-seated harmful practices within the industry that demand deliberate undoing. According to a Business of Fashion report, actions continue to lag public commitments even for the biggest names in the industry. For the majority of the industry, it’s now table stakes to make public pledges about sustainability goals, but there is still little to no pragmatic action on making lasting changes that do not compromise profits or quality.”
Read the full post, More Than Words: Authentic Sustainable Operations Are Not An Impossible Ask, on AlixPartners.com.