Sustainability in retail: a trend or the only way forwards?
29th July 2022 Sustainability has never been more important in retail – both in terms of meeting consumer needs and maintaining relevance. But just as consumers’ interest in sustainability is becoming more prevalent, they are also getting better at telling whether a brand’s sustainability efforts are genuine, or merely an attempt to keep up with the trend. Although sustainability and ethical sourcing are trending, this is likely due to increased customer demand, and may not follow the usual trend pattern due to its real importance in the future of business (and life as we know it). Consumers’ changing values Interest in ethical and sustainable shopping has sky-rocketed over the last few years, with terms such as ‘ethical brands,’ ‘sustainability,’ ‘second-hand’ and ‘recycled materials’ all reaching peak interest in the UK between 2020 and now (data source: Google Trends). This is no coincidence – since the beginning of the pandemic, huge societal shifts have forced people to reassess their values and lifestyle choices. 20% of respondents to a YouGov survey said they had avoided purchasing items from brands due to environmental concerns, indicating that there is a real threat of customer loss if brands do not keep up with sustainability demands. This shift is...
