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Sustainability demand likely to force change in retail sector

27/01/2012 - By Frank LoSchiavo

Retail sustainability is increasingly important.

Tag: Merchant Account

Retailers are adopting novel methods of improving sustainability as businesses increasingly view operational efficiency, environmental alignment and social compliance as growth opportunities instead of mere risk management concerns. These are the findings of the 2012 Retail Sustainability Report from the Retail Industry Leaders Association.

The demand for sustainability efforts is manifold, but analysts cite the multi-tiered nature of the retail sector as playing a key part. Companies must comply with landlords, manufacturers, suppliers, transport companies, merchant services, local governments, employees, customers, local communities and social and environmental advocates, among other influences.

"While the business case for sustainability is clear, retailers also increasingly understand that the customer of tomorrow will demand more information about the environmental and social impact of the products they buy," said Bonnie Nixon, executive director for The Sustainability Consortium.

Among the trends RILA expects to see unfold in coming years is a transformation in retailer-supplier relations due to heightened stress on supply chain management. Innovations in payment technologies may also drive up consumer demand for certain point-of-sale terminals.

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