Green Retailtech, strategic tools for the transformation.
Social and commercial norms are changing. Businesses in the distribution sector and brands stand at a unique point in time where they can have a considerable impact on the environment, and where consumers are increasingly in search of meaning and sustainability in their purchases. Sustainable development is nowadays a key factor in commercial success. A green transformation has a positive effect on the planet, but also on orienting sales strategies towards a sustainable economy.
GreenRetailTech: a growth market.
Substantial investments are going into green tech start-ups: in the US, for example, 73.6 billion euros have been raised over the last five years. Europe is lagging behind with “just” 23.2 billion euros over the same period.
A paradigm shift: an urgent transition.
Global warming is causing climate change and the depletion of resources. Change is not only needed, but is urgent!
Consumers have understood that their impact comes from their purchasing power. Their wallets represent a means of influencing businesses’ practices. In 2020, according to a study by IBM, “around 80% of consumers cited sustainability as important to them”. “57% of respondents say they are willing to change buying habits to reduce environmental impact”; according to Greenprint, “nearly two-thirds (64%) of Americans are willing to pay more for sustainable products”.
Businesses these days are expected to meet customer expectations and to comply with regulations. And companies are taking notice. According to an IBM study, 53% of surveyed organizations view environmental sustainability as one of their top priorities within 3 years, up from 39% that consider it a top priority today.