Consumers are increasingly aligning their progressive values with their purchasing decisions, prompting companies to rethink their retail and marketing operations and efforts. Buyers’ primary concern is how organizations drive meaningful change through sustainability initiatives and DEI efforts. It’s now essential for businesses to think beyond social impact messaging, as their customers are willing to hold them accountable for lack of follow-up or running campaigns that lack authenticity and transparency.
Across the business landscape, companies are re-examining their end-to-end offering, from product sourcing and design to internal representation and logistics, to embed measurable social impact at every step. Companies are also developing new business models and platforms to enable customers and partners to engage and take collective action. Beyond creating positive change, these initiatives must now be seen as a real differentiator in an increasingly competitive market. When implemented effectively, these efforts can drive operational efficiencies and open the door to new revenue streams, creating value for consumers, businesses and their workforces, and for the planet.
In this report, learn how leading retailers and brands are innovating through better processes and practices. Find out how the intrinsic motivation to prioritize social, cultural and environmental responsibility allows companies to not only navigate changing consumer expectations and market shifts, but also lead the way with responsibility and empathy, and understand how profit and purpose can be intertwined to drive growth.
Open price transparency
Given the current state of the economy, from supply chain disruptions to rising inflation, consumers, businesses and their workforce are facing rising costs of living and operating costs. As a result, many companies feel the need to raise the prices of their products and services to compensate. Rather than simply passing increases on to consumers without explanation, many organizations are using this time as an opportunity to be transparent and upfront with their customers by discussing the rationale for their decisions and providing insight into their day-to-day operations. In some cases, these price increases will be used directly to increase the salaries of employees who are essential to providing quality products and experiences.
Consumers are uniting under the banner of purpose (from climate conversations to workers’ rights) and expecting the companies they buy from and the platforms they use to play an active role in promoting a positive change. Recognizing that collective efforts can have the greatest net positive impacts, organizations are leading shared ownership and ongoing giving models that make it easy for clients and customers to provide additional financial support to fund important actions.
The continued growth of e-commerce and increased consumer expectations for speed of delivery have made fulfillment a top priority for retailers hoping to strike the right balance between convenience and cost. Combined with the environmental impacts of packaging waste and transportation, shipping and logistics are fast becoming a major battleground for differentiating the customer experience. To be at the forefront on the sustainability front, many organizations and third-party suppliers are working to create zero-impact delivery operations with carbon offset options and alternative modes of transportation.