Shoptalk Europe, held in Barcelona, stands as the premier retail conference in Europe, bringing together brands, retailers, and industry professionals to explore topics such as retail transformation, shifting consumer behaviour, and strategies to adapt to an ever-changing business landscape.
The Earth Day 2023 theme underscores the significance of investing in our planet, emphasising the role that governments, businesses, and consumers must play in fostering a more sustainable economy. Immediate collaboration towards significant actions is needed to keep global warming below 1.5C. The private sector's essential magnitude and celerity give it the capability to steer the most significant changes. As a result, stakeholders expect businesses to take action on the issue.
Increasing awareness of health and the environmental challenges facing the planet have led to accelerated action and investments by companies and governments. This is no different in the Asia Pacific region.
Not only is sustainability now at the forefront of consumers’ minds, but regulation holding fashion brands accountable for their environmental impact and social practices is coming, led by the EU from the design stage to disposal. Despite grey areas, the EU strategy could reverberate through global value chains, as international brands willing to continue selling in the EU will have to set up their operations to comply.
The beverages, beauty and personal care, home care, dog and cat food, and packaged food industries accounted for four trillion retail/off-trade packaging units in 2022, according to Euromonitor’s packaging data. However, most companies will hardly meet their 2025 sustainability commitments. Waste management efforts are under scrutiny, to comply with stricter legislation and to meet pushing consumer demands. Companies need to be part of the solution.
This is the first of a new series of quarterly articles, highlighting key trends across energy, food and metal commodity markets. Commodity price volatility and supply shocks have ripple effects on the entire value chain, affecting business activities, costs and prices of end products. As a result, businesses are forced to adapt their strategies to manage the risks associated with commodity market fluctuations, while consumers’ behaviour shifts amid the cost-of-living crisis.