Sea levels are rising faster than they have in 28 centuries. Temperatures and annual precipitation is also growing. We can expect more extreme and dangerous weather in the future. How should retail business leaders prepare for this change? How can retailers help lessen the impacts of climate change?
Retailers like Starbucks have made a business case for sustainability, by showing that it will also lessen operating costs. Being greener also aligns with the values of many of its customers. This creates a halo around the brand that keeps shoppers loyal.
Research analyst David Barnett dug into climate change in the Retailer's Guide to the Galaxy
report. He wrote that retail property owners are now seeing more property damages from severe weather like flooding and violent storms.
A drought in California can affect food prices around the world. Disruptions to supply chains delay goods from getting to stores and warehouses.
Consumer behavior has also shifted in response to new weather patterns. In the near term, this will mean a shift in timing of the sales of warm and cold-weather clothing.
James Cook, director of retail research, researches retail and real estate for JLL. James’ podcast ”Where we buy” podcast is a show about the things we buy and the places we buy them.
He meets up with David Barnett to discuss what climate change means for retail
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