Four steps for enduring and remaining diverse in retail

Published: March 28th, 2014
Written by: Editorial Team

Sustainability is now the focus for most retailers and their decision to share their efforts both internally and externally may be contributing to their ability to stay in business.

Sustainability is now the focus for most retailers and their decision to share their efforts both internally and externally may be contributing to their ability to stay in business. According to the Retail Sustainability Report of 2013, 71% of retailers are communicating their efforts and goals internally and publicly on websites and social media.

How is it best to communicate sustainability efforts? The following equation is often used. Which stakeholders matter? What matters to them? + What’s material to you = A company’s definition of “sustainability.”

1. Focus on which stakeholders matter the most. Often retailers note that all stakeholders are important but focusing on whom will help to decide what to share with them. If consumers need reassurance on the products they are buying or employees want to feel more engaged then you will benefit by focusing on their needs.

2. Next, self evaluate. What materials are important? Could it be physical assets or is it more product supply and demand focused.

3. It is necessary to define sustainability as it applies to you. Utilizing the first two steps, rank and communicate to your target audience what is the most important need and strategy.

4. Lastly, determine how to spread the news. Based on your audience and the information they need to know choose the best method for sharing with them through reports, websites, radio and TV, printed materials, and social media.

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