The last few years have seen a continuing focus on sustainability, but the focus of retailers’ efforts is shifting into new areas. Key themes include the importance of the resale market, the need to embed sustainability practises across supply chain operations, the role of technology in sustainability, and the adherence to ESG-related regulations and frameworks.
73% of Consumer Industry CXOs have increased investments in sustainability over the last year, according to Deloitte’s 2023 CxO Sustainability Report. Companies feel pressure from a variety of stakeholders, with customers, board members, and regulators as top 3. The figure below shows how retailers are focusing their sustainability strategies. Beyond impact on our planet, CxOs also see benefits of their sustainability efforts expand into areas like brand recognition, customer satisfaction, and increased supply chain efficiency and/or resilience.