Is The Next Retail Apocalypse – Not Paying Attention To The Environment?
If you are a retailer that is struggling breaking through online, you don’t want this to be your next difficult to achieve challenge.
I am not an environmentalist or scientist. I am just someone who follows and identifies consumer trends that can make a big difference in how you compete.
The one issue that is ringing loud and clear with me has to do with the Environment.
No social or political issue creates as much attention and concern amongst the public than this.
I’ve been wondering why aren’t more retailers following and acting on this trend?
Of course retailers will need to do more than just say that they are pro-environment.
You have to be doing sustainable things within your organization.
The interesting thing about this is that many larger retailers do have initiatives in place.
The concerns are that they may be identified that they are not doing enough. That is a legitimate risk.
However from where I stand I can see consumers doing more homework and even accepting to pay more, for peace of mind that what they are buying isn’t impacting the environment. Isn’t made under poor work conditions, child labour or lower wages.
From where I stand even the biggest deniers of climate change will not buy products for their children that could be harmful to them. So why do they buy products that harm the environment?
Backlash? Those that don’t want to admit to climate change will find themselves being left behind when it comes to the consumer and their choices to do what is more responsible.
The other issue is that whole new generation of consumers are in the pipeline and are learning that the earth is in danger.
There will be no compromise with this consumer. They will influence their parents and their friends.
In fact they are already doing it and there is no stopping this train.
So if you are a retailer or consultant to retailers; you need to take action on this now.
Because consumers are not going to be as understanding.
The two questions a CEO should be asking today; What is our Environmental Statement? and How Do We Demonstrate That We Are Delivering On It?
Is this the next retail apocalypse? It may very well be the next phase that pushes weaker players off the edge.
However the consumer is going to be looking for trust in a retailer that what they are selling is eco friendly.
If it isn’t or you are found to be selling goods (any goods) that have in some way been produced in an unfriendly way to the environment. Your business will be at risk.
No amount of public relations communication will be enough to dance around this one.
It’s important to keep in mind that consumers who really care about the environment will change their behaviours. They will pay more for quality (quality being eco-friendly made products.)
They will be adopters of technology and goods that protect water, soil, air and the natural environment. Equally important that no human is being harmed or taken advantage of to make this product.
Welcome to the new economy it has just shifted gears on you once more. The only good news, it’s not too late to get in on the trend now!
My name is George Minakakis I am the CEO of Inception Retail Group Inc. and the Author of The Great Transition The Emergence of Unconventional Leadership.