Insight from Vikki Makinson, head of marketing and communications at Oceans
Consumer perspectives are continually evolving, influencing their purchasing decisions, especially concerning sustainability. Deloitte’s data underscores the significance of sustainability for today’s shoppers, with 58% prioritising durability, 39% emphasising repairability, and 37% considering the biodiversity impact of their purchases.
As the retail landscape shifts towards sustainability, what trends can we expect in the years ahead?
Eco-Conscious Consumerism
A prominent trend anticipated for the retail landscape for 2024 and beyond is the rise of eco-conscious consumerism. Shoppers are increasingly expressing concern for environmental issues through their purchasing habits. Statistics indicate a shift towards products made sustainably, prompting retailers to respond with greater transparency in their supply chains, eco-friendly packaging, and promotion of ethically sourced products. Communicating these changes effectively becomes pivotal, with labels and certifications indicating sustainable production becoming more prevalent.
The Future of Sustainability: Technology
Technological advancements are expected to reshape the retail landscape, and virtual reality (VR) stands out as a game-changer. VR, widely embraced in the gaming industry, offers an immersive and interactive shopping experience, allowing consumers to virtually try out products before making a purchase. This technology not only enhances the shopping experience but also educates consumers about product lifecycles and their environmental impact.
Creating a Circular Economy
Circular economies, centred around recycling and repurposing products, will likely gain prominence in sustainable retail. Brands may adopt closed-loop systems, recycling or upcycling products into new ones, thereby reducing waste and minimizing environmental impact. Consumer awareness will drive this trend, prompting retailers to embrace circular design principles for increased consumer engagement and sales.
Localism and Community Engagement
Promoting sustainability in consumer behaviour requires a focus on smaller-scale, community-oriented business practices. Localism and community engagement will see a resurgence, with brands prioritizing sourcing materials from local manufacturers and supporting community initiatives. Fostering a sense of community and shared responsibility can strengthen connections between local businesses and residents, enhancing the overall shopping experience.
In conclusion, retailers aim for a more sustainable and ethical future to align with evolving consumer values. As trends rapidly evolve, staying attuned to consumer shopping habits becomes crucial for retailers to navigate the ever-changing retail landscape.
