Opinion: Sustainability and purpose are crucial to the future of retail

Ian_Geddes

Retail is facing a period of unprecedented change, as a focus on sustainability and having an authentic purpose become more important to brands and consumers while digital disruption continues.

Most retailers have sustainability on their agenda, but those who don’t prioritise it now are at risk of not surviving the next five to 10 years. Why? Climate and environmental issues are rising up both the consumer and corporate agendas.

At the World Economic Forum in Davos in January, a WEF survey of business leaders showed that the top-five business risks were all environmental.

WEF also published a consumer survey that showed 42% of millennials have begun or deepened a business relationship because a consumer company has had a positive impact on the environment.

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