The Social and Sustainable Retail Revolution
In this video Brendan Smyth, Director, Valuations, and Nick Taylor, Senior Retail Advisor, International, discuss four key trends driving the social and sustainable retail revolution and how a focus on sustainability is driving innovation and creating opportunities for industry growth.
- The rental market will explode.
As consumer behavior shifts from ownership to usership, retailers across the globe are entering the product rental market, offering luxury designer and pre-owned goods for rent rather than purchase.
- The resale market will boom.
The product resale market presents a significant opportunity for retailers to decrease their carbon footprint and increase profitability by manufacturing a product once and selling it twice.
- Clean retailers will grow market share.
Increased consumer concern and activism to promote sustainability are driving green innovation across retail sectors and creating opportunities for ethical and lucrative new concepts and business models.
- Dirty retailers will get punished.
Retailers will thrive by responding to and anticipating consumers’ needs, including sustainability expectations and environmental concerns, and may risk market share and brand boycotts otherwise.
Watch the video to learn more about these trends and how they may shape the future of the retail industry.