In honor of Earth Day on April 22nd, we thought we’d share a snapshot of the state of sustainability at the point of purchase. Sustainability efforts at the retail level are proving to be good for consumer brands and retailers, their wallets and Mother Earth.
According to the Retail Industry Leaders Association (RILA) 2013 Sustainability Report, retailers are seeing significant business benefits from their sustainability programs, ranging from improved employee loyalty to decreased costs to more resilient supply chains.
Some of the key findings from RILA report include:
- Majority of the sustainability budgets for retailers are remaining the same
- They are making sustainability investments when a 2-3 year payback is expected
The primary reasons retailers are executing sustainability efforts are:
- Reduced costs/increased profits (90% indicated this benefit)
- Brand enhancement (consumers support brands that stands for something)