We are very passionate about the environment. That’s why we are really happy about the growing trend of green retailing.
This wasn’t always the case.
Don’t get us wrong. We’re business owners too. We understand why others were hesitant to adopt green practices at first, thinking that they require more effort and resources.
Fortunately, they eventually realized that most of these concerns were based on misconceptions and that the extra effort required (such as the extra hour required to search for eco-friendly suppliers) is worth it, especially when it comes to the potential growth of ROI.
Are you considering shifting towards a greener business too? Then you’re in the right place. In this article, we are going to give you a basic introduction on what is green retailing, its benefits, its efficiency, and the different ways that you can do to put it into practice. Excited? So are we, so let’s get started!
What Is Green Retailing?
In a nutshell, green retailing is the conscious practice of running your business with eco-friendly processes. This includes making an effort to reduce your waste, making your office more energy-efficient, and more. Don’t worry, we are going to share more ways in a bit.
The Benefits and Efficiency of Green Retailing
For now, let’s discuss the potential benefits. Here they are:
It saves money
One of the biggest benefits of green retailing is the amazing opportunities to save money.
For instance, according to the U.S. Department of Energy, using LED lighting allows you to use up to 90% less energy. LEDs also last 25 times longer compared to traditional lighting options.
Green retailing can also motivate you to reconsider your energy sources. Transitioning to a renewable source of electricity and heating (like solar panels and geothermal heat pumps) may require some investment upfront, but they can certainly save you a lot from your utility expenses in the long run.
It increases revenue
There are a lot of ways to increase your business revenue. For instance, providing an alternative method to pay for your products and services through POS lending software rather than making them pay with cash is a great way to give your patrons more buying power.
However, you should definitely consider going green as well. For instance, a recent survey reports that 64% of U.S. consumers are actually willing to pay more for sustainable products. The problem is, they simply don’t know where to find green retailers. Thus, if you are willing to offer your customers an alternative to paying with cash, then we highly recommend you inform them beforehand.
It means happier customers
What makes green retail so efficient is the fact that it makes very happy customers. It makes them more comfortable knowing that your store will probably have better air quality and that your products will probably have less toxic components compared to your competitors.
It means healthier employees
Finally, green practices can also significantly impact your employees’ health for the better. Aside from the health benefits we already mentioned in the previous point, statistics show that 74% of U.S. employees are happier working for a green establishment, which boosts job satisfaction, lowers stress, and improves overall health and wellness.
Tips on How to Go Green
Going green definitely has other benefits in store. However, let us now move on to our next challenge: how do you make the transition? Here are some tips:
- Switch to green suppliers and avoid using single-use items in your establishment
- Reuse boxes and other packaging materials
- Go paperless and work with a more sustainable data center
- Reduce business-related travel and offer remote working options to reduce carbon emissions
- Stay updated with the latest green initiatives so you can apply the best practices to your business as they come
Finally, don’t get frustrated if you fail to make certain green practices work for you. The tips we have shared with you above are not the only ways you can go green. Keep in mind that it is also a never-ending process of constantly finding methods to improve your business processes little by little.
Green Means Go
Don’t get us wrong. While there are a lot of ways to make small changes to improve your business processes and make them more environmentally friendly, it can also be a difficult and bumpy ride. But you know what? It is totally worth it.
We also strongly believe that it is the future of retail. Just take a look at some of the biggest companies that are already making the switch.
We are talking about Ikea’s goal to be climate positive by 2030, Lush’s efforts to make their brand even more sustainable beyond just their products, and Walmart’s science-based initiatives to reduce greenhouse gases.
With conscious effort, you might just find your company among these big names, and all because you’ve decided to make that switch. Good luck!