The future of retail is the intersection of digitalization and sustainability

April 18, 2024 EcoVadis EN


Retailers worldwide, especially traditional ones, are facing two major headwinds: digitalization and sustainability. It’s crucial for every retail CEO to prioritize these trends not only as challenges but also as opportunities to be taken on together as drivers of growth. 


Traditional retailers face tough competition from tech-savvy rivals. McKinsey warns that retail margins have shrunk by 2% to 3% annually, even up to 5% to 6% in some cases, from 2017 to 2022. Omnichannel retailers often outperform traditional ones. Online sales grew by 12% in mature categories in 2021, surpassing offline sales by 1.4 times, and new categories surged by 6%, seven times faster than offline.



Read the full article at: fortune.com

About the Author

EcoVadis EN

EcoVadis is a purpose-driven company dedicated to embedding sustainability intelligence into every business decision worldwide. We offer a full range of solutions including IQ-Plus Risk & Compliance Management, EcoVadis Ratings, and Carbon Action Module for Scope 3 Decarbonization. Key features like 360/Live News Monitoring, Academy E-learning and Corrective action plans help companies comply with ESG regulations, reduce GHG emissions, and improve the sustainability performance of their business and value chain across 250 industries in 185 countries.

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