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 whose mission is to provide the world's most trusted business sustainability ratings. Businesses of all sizes rely on EcoVadis’ expert intelligence and evidence-based ratings to manage risk and compliance, drive decarbonization, and improve the sustainability performance of their business and value chain. Its AI-powered risk mapping, actionable scorecards, benchmarks, carbon action tools, and insights guide a resilience and improvement journey for environmental, social and ethical practices across 200 industry categories and 175 countries.

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