The potential of sustainable retail

Articles & Reports
 |  
Oct 2023
 |  
Landsec
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What: A report exploring the potential for sustainable retail and the role it could play in encouraging further urban community and environmental growth.


Why it is important: Sustainable retail can bring lots of opportunities such as economic benefits, but there will need to be the right processes in place for communities to benefit.


Sustainable retail is defined by increased use of renewable/green energy sources; more energy-efficient buildings and smarter use of water supplies; a reduction in the use of plastic; a focus on ethical supply chains, zero-waste to landfill, and maximizing recycling; and independent local businesses with local supply chains. Consumers, local authorities, and retail brands value localism, collaboration, data sharing, and incentives and costs as key features of sustainable retail.


The report suggests that such retail destinations could add nearly £100m to local economies while boosting revenues for retail brands by up to 13% over the longer term. The public prefers sustainable refurbishments of local shopping centers, and authorities consider independent stores and transport connections, while brands focus on consumer preferences that are economically viable.


To accomplish their sustainability goals, the stakeholders interviewed emphasized the need for data transparency, baselines, and targets for improvements.


The potential of sustainable retail