IADS Exclusive: IADS White Paper How sustainability is seeping into the foundation of department store businesses
Sustainability in retail is hardly new and has become a major factor in business decisions and investments for retailers of all shapes and sizes. Consumers are increasingly becoming aware of the impacts that their purchases can have on emerging economies and garment workers and are consequentially becoming more demanding to understand how they can make impactful changes by harnessing their purchasing power. Governments are also taking a stance and demanding that retail industries start to release more accurate data that can be traceable through new laws and regulations that can have a large impact on profits and operations.
Retailers do not have the luxury of ignoring this topic. They hold responsibility as they translate customer desires and needs into market opportunities by acting as a bridge between consumers and suppliers. Department stores play an even more important role thanks to their historical and usually very central position in cities, allowing them to bring convenience and product curation to both local customers and tourists who view them as must-see places during their stay.
With such a position and impact, department stores are bound to transform into sustainable businesses offering consumers facilities, products and experiences that create net-positive environmental and social impacts. The IADS White Paper reveals how department stores are innovating and adapting to allow sustainability into their core business in order to remain relevant.
IADS provides its members with a weekly in-depth analysis on retail-oriented topics. This is an example of the themes the Association regularly addresses, and the topic of an article from the IADS members-only newsletter date 01 February 2023.
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