ESG in retail delivered using the POS technology

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In today’s world, there is a growing focus on sustainability in retail, and more and more companies incorporating sustainability principles into the very core of their operations. They are setting standards for Environmental, Social and Governance (ESG) in retail performance.

ESG top companies are taking this a step further and formalising their commitment to sustainability in retail with Triple Bottom Line (TBL) reporting – this means that when reporting on their business to stakeholders, they focus not only on profit, but also on the other two ‘Ps – people and planet.

iVend’s retail technology solution is driving ESG in retail.

Learn more about our state-of-the-art cloud-based POS systems.

Sustainability in retail has a high level of focus, and 90%* of businesses either have or are planning their strategy. This focus is driven in large part by the changing demands of their consumers – shoppers actively want to buy from sustainable retail companies, and 60%** are willing to pay more for ‘responsible’ products.  So when it comes retailers’ sustainability initiatives, becoming known as an ESG brand is not only a question of ‘doing the right thing’ but it make sound business sense as well –  ESG top companies are more attractive to investors  (66%+ consider ESG when investing)  and can save costs to improve their bottom line.

When it comes to implementing strategies for ESG in retail, businesses have a ‘secret weapon’ already in place – their retail POS systems. Technology is an enabler for retail, driving efficiencies, customer engagement and profit. But it can also be a way to implement practices that help retailers to achieve their ESG in retail goals. Let’s look at some of the ways that technology can enable sustainability in retail: