Survey Shows: More Retailers Going Green
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by Ryan Jones
VIRGINIA (August 4, 2009) -
Even with a sagging economy, the prospects for green retailers is
looking quite good. As recently published in a report by Retail Systems Research, a survey of
leading retailers has revealed stats correlating sustainability with business sales
revenue. Specifically, businesses accruing sales growth rates higher than
the average rates thus far in 2009, have been addressing sustainability and
green business practices on all fronts.
If this wasn't proof enough that engaging in business
practices which are better for the environment, also means doing better business
altogether, the survey further pressed retailers about their motivations to go
green.
Compared to a 2008 figure, in which 44% of retailers
considered sustainability to be a strategic issue specific to certain
departments within the business, the 2009 survey shows that 48% of businesses
with more than 3% year-over growth consider sustainability and green business
practices to be a strategic issue - and not just in specific department, but
rather in all areas of business. An additional 22% said that sustainability
should be integrated tactical business practices.
In other words, not only are more retailers coming around to
the idea that going green is the ethical and moral thing to do, but that it is
the profitable thing to do.
One of the most interesting findings in the report was that
while many retailers are still being more heavily motivated by the prospects of
driving down operational costs, i.e., installing solar panels or efficient
lighting to reduce electricity costs or even procure tax breaks, those
businesses which were equally, if not more motivated by an ethical
responsibility to consumers, had achieved the highest growth rates, not to
mention a branding that consumers now associate with sustainability and
environmental stewardship.
Retail Systems Research, which provides retail analysis and
research for several retail giants and industry leaders like Microsoft and Cisco
Systems, conducted the study in partnership with the Retail Industry Leaders
Association. That's promising news in itself. Retail leaders going green is
exactly what the global economy needs.
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