Press Release 22nd July 2024, Paris | Asendia
As the retail industry continues to evolve, sustainability has become a critical focus for businesses worldwide. In response to this growing trend, Asendia, a global e-commerce and mail solutions provider, has gathered insights from leading ESG and sustainability experts as part of its Global Retail Voices initiative.
The research, which profiles 50 influential figures in the retail and e-commerce sector, includes valuable perspectives on sustainable practices from industry leaders. These experts, representing some of the world's most respected brands, share their thoughts on the challenges and opportunities in implementing eco-friendly strategies in retail operations.
The luxury fashion sector faces significant challenges in adopting sustainable practices, given its traditionally resource-intensive nature. However, with studies such as the report by Boston Consulting Group (BCG) and Comité Colbert showing that approximately 65% of luxury consumers now consider a brand's sustainability practices before making a purchase, the industry faces increasing pressure to transform.
The GCC re-commerce luxury market, valued at $480-500 million in 2022 and growing at 15% annually, exemplifies the shift towards circularity driven by conscious consumer behaviour and luxury brands adapting globally. This trend reflects a significant paradigm shift where policy makers, regulators, brands, retailers, and customers must align to drive forward sustainable practices. At Chalhoub Group, we are leveraging these insights to innovate and strengthen our strategy and operations, ensuring that sustainability remains the core of our business ethos."
The push for sustainability in fashion extends beyond individual company initiatives to industry-wide policy changes. As the retail sector grapples with its environmental impact, there's a growing recognition that systemic change requires more than voluntary corporate action. In fact, a recent study by IBM in collaboration with Oxford Economics found that only 30% of fashion companies have made significant progress on their sustainability targets, highlighting the need for stronger regulatory frameworks.
Dana Davis, fashion consultant and former sustainability director at Mara Hoffman, highlights the importance of policy in driving sustainable practices: "Sustainability should drive consumer behaviour and shape industry practices, but currently what we really need is policy. These policies would not only set the standards and incentives for sustainable innovation but also ensure accountability, while fostering a market where eco-conscious citizens and responsible businesses can thrive together."
Davis's call for policy intervention reflects a broader trend in the industry, where leaders are increasingly looking to regulatory frameworks to accelerate sustainability efforts. With the fashion industry responsible for an estimated 4-10% of global greenhouse gas emissions annually, the need for coordinated action has never been more urgent.
Several other industry leaders feature in the e-book, including David Hu, Head of Ecommerce Marketplace at Electrolux Group; and Marija Rompani, Director of Sustainability & Ethics at John Lewis Partnership, to name a few.
Amy Collins, Head of CSR Engagement at Asendia, emphasises the importance of sustainability in the retail sector, particularly in regards to logistics: "The world of retail is embracing sustainability, and it's changing the game for everyone involved in transporting products to your doorstep. It's not just about getting packages delivered fast – it's about knowing how much carbon is emitted from each parcel. Retailers are pushing for detailed info on their shipments' environmental impact, and it's keeping logistics companies on their toes.
But here's the exciting part: all these challenges are sparking new ideas. We're seeing clever new ways to measure and cut down on emissions. The bottom line? Going green isn't just good for the planet. It's becoming essential for businesses to thrive and keep customers happy in our connected world. Shoppers care about this stuff, and smart companies are listening."
The sustainability experts featured in the Global Retail Voices e-book are part of a larger group of 50 industry leaders selected for their expertise in various areas, including brand, customer experience, product, logistics, and innovation. The e-book aims to celebrate the individuals driving positive change in the retail industry while providing valuable insights for businesses looking to enhance their sustainability efforts.
The selection process for Global Retail Voices involved a comprehensive evaluation of each individual's industry experience, social media influence, professional achievements, and overall impact on the retail sector. This rigorous approach ensures that the e-book represents a true "who's who" of global retail.
“Selected for their contributions, these individuals collectively lead the sector,” said Simon Batt, Chief Executive Officer of Asendia. “From visionary leaders to pioneers in sustainability and customer experience, Global Retail Voices showcases diverse talents and applauds remarkable accomplishments. This initiative is not just about recognition but also about inspiring others by highlighting the extraordinary work being done in the industry.”
As a unique resource, Global Retail Voices recognises and honours the remarkable contributions of these industry leaders.