2024 Sustainability Spotlight Report
Sustainability Spotlight Reveals 69% Of Aussies Believe The Retail Industry Creates Too Much Waste -- So Why Is Sustainability In The Sector At a Crossroads?
Power Retail and the Purpose Agents launch third annual Sustainability Report highlighting new expectations around sustainable retail, government regulations and where we go from here…
As cost-of-living pressures and the retail crisis continue to soar, both consumers and businesses alike are reassessing their investment in sustainability. While both groups believe it’s important, affordability and profitability are the current motivating factors of all parties, with sustainable elements being renegotiated and higher expectations coming down on businesses.
Power Retail, a leading source for Australian e-commerce news, data and insights, has for a third year joined forces with The Purpose Agents and Shippit, to publish a 33-page spotlight report that reveals consumer sentiments around sustainable retail in 2024 and companies leading the charge on sustainability initiatives, despite this challenging time in the industry.
Significant findings from the spotlight report (as highlighted in the slide below), include:
- 47%, a 1ppt increase from last year, prefer to shop with retailers that are open about their sustainability practices.
- 45% of customers have not been swayed by sustainability practices in the last six months. With cost-of-living pressures high, consumers may be prioritising affordability over sustainability for now.
- The percentage of customers who actively shop for recycled or recyclable items has declined to 24%, possibly due to scepticism about how effectively these items are actually recycled.
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