In the business world, change is constant
Despite growing skepticism and rising “greenlash” across Europe, consumers continue to reaffirm their commitment to sustainable consumption. Economic pressures may influence purchasing decisions, but they have not weakened the underlying demand for responsible retail.
With this first edition of the BearingPoint Odoxa Sustainable Retail Observatory, we investigated consumers and the strong inconsistencies between their declared intentions (in opinion surveys) and their actual behavior (readable in market shares).
Today’s customers want more than speed and quality from their brands. Environmental, social and governance (ESG) and diversity and inclusion (D&I) are key to customer demand. To meet that expectation, brands must deepen supply chain traceability; harnessing technology to get closer to their raw source materials and trace forward.
Leading brands are adopting a positive approach to the issues facing society today. Whether the considerations are environmental, ethical or social, firms are taking steps to humanize themselves with potentially far-reaching consequences.
This sea change is not just down to consumer demand. It’s also about a drive from companies themselves to live the values they claim publicly. So what’s needed to deliver in the 21st century?