The news: A number of retailers are rolling out sustainability-focused initiatives in response to consumers’ growing desire for brands to exhibit social and environmental responsibility.
More on this: Sustainability is a primary brand consideration for millennial and Gen Z consumers, who are increasingly flexing the power of their wallets.
The challenge: Consumer trust in eco-friendly claims is wavering due to packaging confusion and unsanctioned standards for environmental ambitions.
The opportunity: A growing number of companies are offering tools to help businesses develop a more accurate picture of their carbon footprint, per The Wall Street Journal.
The big takeaway: Retailers seeking to remain relevant to younger consumers have no choice but to develop more eco-friendly initiatives, whether that involves the design of their stores, packaging, supply chain, or product mix.