COVID-19 pandemic will put sustainability concerns on hold

COVID-19 pandemic will put sustainability concerns on hold

Categories :

By citiesabc news
Sustainability

COVID-19 pandemic will put sustainability concerns on hold

NEWS RELEASE
3rd April 2020

Sustainability was the buzz word of 2019 and would have continued to increase in prominence in 2020. However, the global outbreak of coronavirus (COVID-19) will bring progress to a halt, according to GlobalData, a leading data and analytics company.

Emily Salter, Analyst at GlobalData, comments: “Making changes to materials, logistics and production processes to improve the sustainability of products and operations will slow, as sustainability is no longer top of retailers' and consumers' agendas. This is due to long-term adjustments being costly and many non-food retailers will be financially unstable as they emerge from this crisis after a significant period of low or no sales.”

Sustainability and single-use plastic will be less important to many consumers in the short term where hygiene and cleanliness is more of a priority to prevent the spread of the virus. Prior to the outbreak, shopping habits were starting to shift – 74% of nationally representative UK consumers surveyed in 2019 said they would prefer to shop at a retailer that has more loose fruit and vegetables. However, the prioritisation of health over the environment has led to a drastic increase in sales of anti-bacterial gel and hand wash in plastic bottles, with little regard for plastic-free alternatives or refills that may be available.

Salter continues: “Another issue is the problem of unsold stock that retailers will be stuck with, as all non-essential stores and some websites have ceased trading temporarily. Some items and ranges could be able to be sold at a later date, but this may not be the case for highly seasonal and trend-led pieces, raising questions about how these items will be disposed. Given Burberry came under fire for burning stock in 2018, retailers must be careful how they deal with this issue. Acting quickly, Kurt Geiger has announced it plans to donate some of its stock to NHS staff, clearing through the excess while also generating positive press.”

Additionally, during the outbreak consumers will be less likely or unable to buy second hand items – sales via some Facebook neighbourhood groups for instance are being discouraged or stopped, and willingness may decline after the crisis is over due to lingering concerns about the hygiene of used products.

Salter concludes: “Although sustainability will slowly become more important again once the spread of COVID-19 has ceased, the increased awareness of cleanliness and germs is likely to remain at the forefront of shoppers’ minds and will continue to hinder the growth of sustainability initiatives, such as refill stores.”

ENDS
GlobalData Media Centre
Analysts available for comment, please contact the GlobalData Press Office:
EMEA & Americas: +44 (0)207 832 4399
Asia-Pacific: +91 40 6616 6809 - Email: pr@globaldata.com

About GlobalData
4,000 of the world’s largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData’s unique data, expert analysis and innovative solutions, all in one platform. GlobalData’s mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology and professional services sectors. PR9124.

Tags

Rapid Ways to Quit Smoking and Transform Your Life

Rapid Ways to Quit Smoking and Transform Your Life

Feb 23, 2024
Why City Real Estate Investment Is on the Rise?

Why City Real Estate Investment Is on the Rise?

Feb 21, 2024

Maximizing Urban Space: Commercial Roofing Solutions For City Centers

Feb 21, 2024
Smart Factories: An Unexplored Internship Goldmine for Engineering Students

Smart Factories: An Unexplored Internship Goldmine for Engineering Students

Feb 21, 2024
6 Lessons from New Business Owners’ Common Missteps

6 Lessons from New Business Owners’ Common Missteps

Feb 19, 2024
The Evolution of Electric Vehicle Technology: The Key Innovations

The Evolution of Electric Vehicle Technology: The Key Innovations

Feb 18, 2024
The Essential Guide to Partnering with an Equity Firm for Business Growth

The Essential Guide to Partnering with an Equity Firm for Business Growth

Feb 18, 2024
Understanding Data Centers & Its Structure: 6 Practical Tips from the Pros

Understanding Data Centers & Its Structure: 6 Practical Tips from the Pros

Feb 15, 2024
Leveraging Blockchain Tech To Transition Businesses To Web 3.0: Dinis Guarda Interviews Jay Steinback, CEO yWhales

Leveraging Blockchain Tech To Transition Businesses To Web 3.0: Dinis Guarda Interviews Jay Steinback, CEO yWhales

Feb 14, 2024
The Trinity MBA Surges 21 Places In The Financial Times’ 2024 Global MBA Ranking

The Trinity MBA Surges 21 Places In The Financial Times’ 2024 Global MBA Ranking

Feb 12, 2024