Every Tuesday we think some thinks and round-up some top tips.
It’s become apparent, no matter what your business, being sustainable is something most customers today have at the top of their shopping list. We’ve been seeing an exponential growth in ethical consumption and this has only been accelerated by the COVID-19 crisis. Indeed, 61% of consumers are making more environmentally friendly and ethical purchases and 89% of them indicate this is likely to continue post-crisis.
You don’t have to look far to find all sorts of great examples of business’ doing their bit. Big boys like IKEA are doing it by buying back pieces of old furniture in exchange for customer credit or vouchers during Black Friday with their #BuyBackFriday campaign. IKEA are striving to economise resources by reducing waste and enabling millions of customers to live a more sustainable life at home (you can have a read of their ‘People & Planet Positive’ sustainability strategy for 2020 to find out more). A great take on the excessive consumerism Black Friday has become synonymous with.
And it’s not just brands getting in on the action. Berlin is aiming to become a zero-waste city by 2030, so the government have set up a ‘department store within a department store’ that only sells second hand goods, to fight throw-away culture.
Feeling inspired? Or unsure about what to do next? We get it, trying to figure out your approach to ‘better business’ can be daunting.
The good thing is, doing better business comes in all shapes and sizes, and no matter what your trade there is definitely a way you can shape the world for good. So, to get you started, we have put together 3 top tips to set you off in the right direction.
Three tips for doing better business:
1. Dig deep and embrace change: Take a moment to stop and focus on your value proposition. What do you stand for? What are your customers asking for? Use these insights to define what you stand should for now. Is there a single cause that your business can embrace or support to demonstrate your commitment? Start small and you won’t get left behind!
2. Understand your supply chain inside out: What are your suppliers doing in the way of better business? How do they make a difference (and if they don’t maybe it’s time to look for a supplier who does!). Make sure that everything your business is touching leaves the world in a better place than you found it. Working with partners whose values align with your own can have an exponential impact.
3. Constant reinvention: Keep your eyes peeled across all industries, you never know when inspiration can strike and what ideas can be built from seeing what other people are doing! A word of caution: make sure that any new initiatives are packed full of meaning and tangible impact that aligns with your brand values. This way they stand the test of time and can be fully ingrained into the core of your business.
How can you effectively ‘do better business’? Get your leadership team on board and make a public commitment to do better, even if it’s a small step. As Tesco would say – every little helps – and it does!