Retailers Commit to Going Green – Finally

As “cost-cutting” becomes a buzzword as popular as “going green,” we’re seeing many retailers playing catch up and beginning to take advantage of initiatives that positivity affect their bottom line, consumer loyalty, and the environment.

So what are retail CFOs doing to make their companies and products greener?

According to the 2010 BDO USA, LLP Retail Compass of CFOs, quite a lot.
  • Changing From the Inside First – 48% of retail CFOs say their green makeover is happening over both internally and externally. Another 18% are involved on an internal basis such as modifying operations or buildings to be more efficient. Surprisingly only 4% say their companies are involved externally by selling green products, perhaps a reflection of their recession battered customers who are still focusing on essentials.
  • Reduce, Reuse, Recycle – 70% of retail companies are recycling, and 64% are cutting down paper use. Nearly half (43%) are making efforts to reduce electricity in their retail stores, and many are focusing on reducing energy consumption in their offices (38%) and distribution centers (26%).
  • Taking Advantage of their Good Deeds – It’s no secret that there are a lot of incentives to going green, and retail CFOs are taking advantage of the following green tax incentives: 
    • Energy efficient lighting (74%)
    • Energy efficient heating/cooling systems (30%)
    • Energy efficient building insulation (16%)
    • State and local green incentives (16%) 
    • Energy efficient commercial building deductions on new buildings (10%)
Earlier this year, the National Retail Federation put together a great list of what some retailers are doing to go green, and since then we’ve seen announcements of more green product lines and efforts to conserve energy.

Are you on the bandwagon? If so, we’d love to hear what you’re doing to make your products or company greener.