Page 11 - RetailWorld-May2021-Tobacco-Updated

STORE DESIGN STRATEGY NEEDED FOR RETAIL With consumer values rapidly evolving and the rising demand for businesses and brands to support causes that benefit society, we consider the importance and expectation of a clear, achievable sustainability strategy being adopted in physical retail. By Quinine founder Ian Johnston. eing sustainable is no longer a ‘nice to have’ attribute. It must be the foundation that every business builds on, and brands with a physical retail presence are uniquely placed for this to have significant impact. What is sustainability? While sustainability is commonly considered a conversation around the protection of the world’s natural resources, the broader definition includes three core pillars: environmental, economic, and social sustainability. All these must be invested in if we’re to achieve the UN’s goal of ‘peace and prosperity for people and the planet, now and into the future’. A collective responsibility The commitment to creating a pathway to sustainability is ramping up. Progressive movements such as the UN’s 2030 Agenda for Sustainable Development and the Paris Agreement on climate change demand that governments enforce change. But policy can only have impact if it’s followed by action. This ranges from the household that commits to using less energy to the large-scale impact of corporations taking responsibility for their sustainable development. We see brands such as Chanel committing to financial bonds with built-in sustainability clauses. Businesses such as Vodafone are reviewing their supply chains, and manufacturers such as LEGO are setting ambitious materials goals – committing to producing only sustainably made LEGO bricks by 2030. In a bid to reduce its plastic waste, LEGO is set to launch a range of botanical elements made from a plant-based plastic, sourced from sugar cane. We’re seeing great progress, but for every brand doing great things, there are many that must do more. No matter how big or small, they all have a role to play, and this of course includes brands with a physical retail channel. The role of physical retail Despite the disruption the pandemic has brought, retail will always remain integral to global society. Furthermore, retail’s role in society is evolving. Retail now exists in multiple channels, engaging with consumers in many different ways. Retail is everywhere and can therefore exert considerable influence. So, like individuals, retail brands have a responsibility to act. Consumers are looking to retailers and brands to lead by example, to educate and deliver cultural influence. The pandemic has led consumers to adjust their lifestyles to reduce their environmental impact, and increasingly they’re choosing brands that demonstrate sustainable values. Through their stores, retailers are in a powerful position to deliver sustainability. Alongside the opportunity to address their own impact, through face-to-face in-store experiences, they’re uniquely placed to have significant social impact on their customers, by raising awareness of causes, educating individuals about the issues and inspiring them to take action. Unfortunately, too many retailers are missing the opportunity to leverage their TO PAGE 10 MAY, 2021 RETAIL WORLD 9