Sustainability Are Consumers Buying It

8/3/2019 Sustainability Are Consumers Buying It

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Sustainability:Are consumers buying it?


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Are consumers buying sustainability?Yes, and in increasing numbers. Themajority of UK consumers buy thenotion of sustainability and demonstrate

awareness and concern about theissues. As a result they are changinglifestyle and behaviours.

This is a complex and changing

environment, impacted by regulationand competitor action. We assess theoptions open to retail and consumergoods businesses to protect and securefuture value, from both an internal and

external perspective.

Some might argue the hype will exceedthe reality in the short term. However,rather as the internet is revolutionisingretail, sustainability is an issue whichwill change the world. Retail andconsumer goods companies need toprepare now.

Sustainability:

Are consumers buying it? 2


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Sustainability is becoming a businessimperative; doing nothing is no longer anoption. It is about securing your business for

the future.

Converging influences are forcingsustainability issues to the top of thecorporate agenda. Consumer awareness,pressure on commodity and energy prices,scarcity of raw materials, together withregulator and competitor actions arecombining to ensure businesses cannot ignorethe environmental and social dimensions of

how they operate.

Consumers are buying it, both notionally andat the tills. Mainstream awareness andconcern exists and behaviours are changing.Consumers want to act and buy moresustainably, but are restricted by three keybarriers high price; confusion and lack oftrust; and availability of alternatives.

The consumer dimension offers bothopportunity and risk. Todays consumersknow, and care more about what they buy,how it is made, what it is made from, how farit travels and how it is packaged.

The way consumers gather and shareinformation has also changed; they areempowered and linked as never before by the

internet. Information can spread globally in aninstant. The consequences of being found tobe operating unethically, or in anenvironmentally unfriendly manner, can bedamaging and long-term.

Equally important to retail and consumergoods businesses are the operational, costand regulatory impacts of sustainability issues.These are having tangible effects upon every

aspect of the business model, from theavailability and price of raw materials to thetypes of products on the shelf and beyond.

Those organisations moving first and fastest,are building sustainable solutions that createvalue. These leaders are starting to change therules of the game. The risks of being leftbehind are becoming too great to ignore.

Introduction

Sustainability:



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Sustainability issues are higher on the UKconsumer agenda than ever before.PricewaterhouseCoopers (PwC) commissioned

independent research into the attitudes andhabits of 4,000 UK consumers and the resultsclearly demonstrate the existence ofmainstream public awareness and concernabout sustainability issues.

Over 60% of consumers stated thatsustainability issues (climate change, poverty,food and water shortages) were the mostimportant issues facing the world. When

asked about climate change, 80% said theywere worried.

Drivers of awareness and concern are varied.The ordinary and everyday are beingimpacted and consumers are feelingeconomic pressure in food, fuel and utilityprices. In addition they are seeing increasedvolatility in global and local weather patterns.

Awareness has clearly been influenced by anexplosion of media coverage. The number ofarticles appearing in the mainstream nationalUK press has increased ten-fold over the pastdecade and doubled between 2005 and 2007.

This awareness and concern is motivatingaction and changing behaviour. When asked ifthey had made significant changes to theirlifestyle over the past two years as a result of

their environmental concerns, 75% of thepopulation claimed they had.

Actions consumers have taken are: Recycling (73%); Turning off lights/electrical appliances when

not in use (32%); Switching to energy efficient light-bulbs

(28%).

The Consumer

Newspaper Coverage of Sustainability (1985-2007)

30,000

22,500

15,000

7,500

0

85 87 89 91 93 95 97 99 01 03 05 07

SocialFood

Environment

Source: PwC Analysis, Factiva

Sustainability:


Number of

Media Stories

I think consumers are alreadyshowing signs of a real willingnessto change their behaviour when itcomes to the whole area of

sustainability I dont think this issue isconfined to being a concern for the middle

classes. I think it is pretty universal.Charlie Mayfield, Chairman, John Lewis


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These changes are convenient, enabled byexternal action (e.g. recycling and doorstepcollection), relatively easy for them to

understand and will save them money. Ourresearch shows that consumers have changedtheir purchasing habits too. When asked if theyregularly bought organic, free range orFairtrade food, purchasing penetration hasincreased significantly.

For example, within our sample, Fairtrade foodpenetration has grown from 20% of shoppersthree years ago to 50% now. Organic food

purchasing has grown from 22% to 43%.Non-food shows similar growth, albeit from alower base. For example, the proportion ofshoppers buying organic and Fairtradeclothing has grown from 7% three years agoto 17% now.

In addition, consumers clearly indicate theywant to buy more sustainably; 58% buy fewersustainable products than they would like to.

The greatest growth in intent is indicated innon-food categories such as clothing andhomewares.

However, while purchase penetration acrossthe population may have grown rapidly andthe desire to buy more sustainable products

clearly exists, the share of todays ethical orenvironmentally friendly products remainssmall. We estimate these products accountedfor under 4% of total consumer expenditureon retail goods in 2007.

Sustainability:


I believe the consumer has actuallyshown real leadership in this field.Theyve sent a very strong signal toretailers and consumer goods

companies, that they do want products thatare produced sustainably for people and for

the environment.Harriet Lamb, Executive Director,Fairtrade Foundation UK

Weve seen the trends in shopperschange over the years. First of allwe started to distribute ourproducts to the real green

consumers... over the years weve seen theaudience for our type of products broaden

considerably.Mick Bremans, Managing Director, Ecover

UK Sales of Sustainable Goods vs All Goods*: 2003-2008

bn

Sustainable Market

300 5.0%

4.0%

3.0%

2.0%

1.0%

250

2003 2004 2005 2006 2007 2008

200

150

100

50

0 0.0%

Total Market* Market Share

Source: Verdict, PwC Analysis

* Total UK consumer expenditure on retail products


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6

BarriersOur research indicates consumers areprevented from acting on their desire to buy

more sustainable products by three keybarriers:

Price when asked what prevented themfrom buying more products that are betterfor the planet or the people who make them,price was the number one inhibitor. In oursample 48% of consumers were eitherunwilling or unable to pay the premiumassociated with more sustainable goods.

This barrier was significant across allsocio-demographic groups. We investigatedthis further to see if this perception was

justified. A comparison shop of 75 items atthe top six UK grocers resulted in anaverage price premium of c.45% forenvironmentally and ethically friendlyproducts. When we examined consumerwillingness to pay a social or environmentalpremium on everyday items the result was

closer to c.20%. Reducing this disparity isone of the challenges for retailers andconsumer goods companies.

Confusion and trust nearly 20% ofconsumers rate confusion about theimplications of their choices and the social

and environmental trade-offs of theirpurchases as a key barrier. Thecontradictory and often overwhelminginformation about the implications of buyingone product over another leaves consumersconfused and unable to act on theirconcerns at the point of purchase. Theywant to make sustainable choices, but arehampered by unclear messages. Thisconfusion, coupled with high prices, leads

to a lack of trust among shoppers. Over50% of consumers questioned stated theytrust Non-Governmental Organisations(NGOs), such as Greenpeace and theFairtrade Foundation in the area ofsustainability, whereas only 9%-16% gavethe same level of trust to consumer goodscompanies and retailers.

Who do you trust to tell you the truth about the

environmental impact of a product?

NGOs Government The Media Producer Retailer

51% 20% 20% 16% 9%

Source: PwC Analysis of 2,000 UK consumersIf one looks widely across organic,Fairtrade and higher husbandrymeat, then the premium is stillthere and therefore the consumer

has to believe, genuinely believe that theres

a real benefit for the animal or for the farmer,if theyre going to pay that price premium.Justin King, CEO, Sainsburys


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Sustainability:


Lack of alternatives almost 20% ofconsumers said the lack of availability ofalternative sustainable products was the key

reason why they did not buy more. Quitesimply, sustainable alternatives do notcurrently exist for all product categories, andchoice is limited in those in which they do.Our research indicates that c.60% of basicgrocery products have sustainablealternatives available in store, although thispercentage decreases to c.40% for somegrocery sub-categories. In clothing and non-food, availability of alternatives is

considerably lower.

Turning sustainability on its headConsumers are aware and concerned aboutthe social and environmental issues the worldis facing. Fairtrade has provided an outlet forconsumers on the poverty issue, and organicfor their health and wellness concerns.However, they do not yet have a clear path foracting on their environmental concerns.

Our research indicates 62% of consumersthink that reducing the amount of packagingon products is the most important actionretailers or consumer goods companies couldtake to help the environment. In addition 38%think retailers should stop providing plasticbags and 24% feel they should encouragepeople to waste less and recycle more.

While consumers are witnessing somechanges in packaging, they want more rapidaction. They continue to be bombarded with

messages about reducing their carbonfootprint, but lack the mechanisms todifferentiate products on the basis of theirrelative impact. Carbon labelling has begun toappear on some products. If this proves to beeasy, trustworthy and product penetrationincreases, it may serve as a new competitivebattleground in the brand proposition ofmainstream products, but it is still early days.

Waste and carbon are also areas wheregovernments are taking the greatest action toregulate and encourage changes in consumerand corporate behaviours. In a world of risingenergy and commodity prices, the mostenvironmentally friendly products couldbecome the low-cost alternative a win-winfor environmentally concerned consumers in amore price sensitive world.

I think theres definitely the casethat theyre [customers] a bitconfused and I think theres amajor job for government to make

sure that it helps educate customers aboutwhat the issues are and what it needs to do.But equally retailers, who are at the forefrontbecause they have direct contact with their

customers, have a major job to do.Stuart Rose, Chairman, Marks & Spencer


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The Commercial Impact

Sustainability is tangibly affecting retail andconsumer goods companies across everypoint of the business model. The issues are at

the top of the corporate agenda and arereaching into every function and business unit.Environmental and social performance ismoving out of corporate silos, driven byexternal reporting requirements and internalfinancial and strategic objectives.

Understanding the strategic implications of thedrive for sustainability and factoring it intocorporate decision-making is about securing

the future and enhancing commercialperformance. The business case for investingin sustainable business models is becomingincreasingly clear to all organisations and not

just to those operating in green niches.

Put simply, using fewer raw materials costsless. In an age of rising commodity and rawmaterial costs, it is economically rational toact. In addition, a credible sustainable

customer proposition is a source ofdifferentiation for retailers and consumergoods companies operating in an increasinglycompetitive environment.

Internal implicationsThe commercial logic for assessing andminimising energy, carbon, water and

commodity usage is clear. More efficient useof key inputs and reductions in waste offercost-saving opportunities. Underlyingstructural changes in the world economy, suchas continued growth in the economies ofBrazil, Russia, India and China, meancompetition for resources is intensifying, andresource scarcity is likely to become a greaterissue in the future.

Leading companies are taking action. Firstly,by reducing the levels of resources they use.For example, consumer goods companiessuch as Ecover are building more efficientfactories that use less electricity and recyclewater, thus reducing cost impacts on theirbottom lines. Similarly most major UK groceryretailers, such as Sainsburys, Tesco and M&S,are investing in technology to make their fridgeand freezer units use less energy and emit less

hazardous and potentially taxable emissions.

Sustainability:


Sustainability is good business,and its good business becauseit protects the firm and itscashflows, and ultimately as acommercial enterprise thats

what its about for the long haul.Paul Walsh, CEO, Diageo

Sustainability is such a huge areathat it impacts every element ofour P&L its something thatwere embracing because whats

good for the environment can also be very

good for the bottom line.Fiona Dawson, Managing Director,Mars Snackfood UK


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As costs continue to rise the payback periodfor such capital investment is reduced. Thebest organisations are investigating whichtechnology investments can reduce their cost

and regulatory exposure.

Secondly, truly pioneering companies areadopting innovative solutions to secure thequantity and quality of materials they need tomanufacture and operate. From a supply chainperspective this has resulted in organisationsforging better links with farmers, growers,NGOs and other external certification bodies.

Producers and retailers that are investingdirectly in suppliers and farmers are findingreal strategic advantage. This collaborativemodel delivers the continuity and consistencyof supply essential to meet the commercialneeds of a business. In addition it brings realbenefits to farmers and producers and isreputation enhancing for the corporate. Thismodel is as relevant to relationships withdeveloped world farmers as it is to developing

world suppliers.

Successful organisations use sustainability fortheir human resource strategies. Acting in asustainable way is key to recruit, retain anddevelop staff. Historically this has been most

applicable to knowledge based industriessuch as financial and professional services.However retailers and consumer goodscompanies are now using their sustainabilitycredentials to attract and motivate staff acrossall functions. Being green helps you get, andhold onto, the best talent.

Sustainability:


The big commercial reason forwhy going down this route deliversbusiness results is the fact that

you get a more committed, moretalented group of people in your business forlonger.Richard Reed, Co-Founder, Innocent

At the moment for actions thatwere taking with regard tosustainability, such as reduction

of waste, reduction ofpackaging and reduction of energy, ourinvestment is offset by cost savings.Terry Duddy, CEO, Home Retail Group


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Sustainability:


External implicationsIn the face of increasing competition andconsumer interest, retailers and consumer

goods companies are using sustainability tosupport their brand and develop range andprice propositions that generate competitiveadvantage.

From both a retail and a consumer goodsperspective what is clear is thatgreenwashing no longer works. Consumersare smarter, better informed and morediscerning. In todays tighter economic climate

consumers want to understand why a pricepremium exists so they can make an educatedchoice on which products best fit theiremotional, ethical and functional needs.

This change in consumer purchasing habitshas resulted in a number of differentapproaches. Wal-Mart is perhaps one of theleading examples of the direction we might beheading in. Its response to sustainability has

been both bold and market changing. At acustomer level it is positioning itself as aleading retailer offering affordable sustainability.How this translates at a price and range levelis best observed via its compact fluorescentlightbulb (CFL) initiative where it worked withsuppliers to reduce the retail price premium byover 50%.

Alongside this, in-store point of sale (POS) andmarketing was used to ensure consumerswere aware of the benefits and that Wal-Mart

would meet the required sales volumes forprofitability. CFLs were given additional shelfspace instead of standard bulbs, and in somecases were given unique POS.

Other retailers are also choice-editing usingsustainability attributes. Sainsburys forexample only stocks Fairtrade bananas andhas absorbed the additional cost from doingthis. This move helps to establish a point of

difference and improve overall consumerperception of the Sainsburys brand; saleshave also benefited, with the companydelivering growth well ahead of the overallbanana market.

From a consumer goods perspective,sustainability has consequences for productformulation, innovation and portfoliocomposition, in addition to branding.

Heightened awareness of ethical andenvironmental issues has irreversibly changedconsumer perceptions of brands andproducts.

Historically, more packaging, more powerfulingredients and more flavour variants haveequated to a better product. With higherraw material costs and retailers increasinglyselecting products on their green

attributes, consumer goods companiesare finding legitimate commercial advantagesto modifying existing products and creatingnew ones.


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Sustainability:


For example, concentrated laundry productsuse less packaging and raw materials, take upless shelf space and are easier for consumersto carry. This win-win situation illustrates how

sustainability is driving change across theproduction, retail and consumption stages ofthe value chain, and how a category canfundamentally change in a short period oftime.

This drive for sustainable brands and productportfolios has resulted in new entrants but hasalso driven increased merger, acquisition anddisposal activity. Unilever and Ben & Jerrys,

PepsiCo and PJs, Cadburys and Green &Blacks, Danone and Stoneyfield Farm are allexamples of recent transactions wheresustainability has been one of the key driversof acquisitions.

Sustainability impacts our businessat every single touch point bothinternally and externally. From

transport and inbound freight ofpackaged product it is absolutely key that wetry and minimise our global footprint.

Adam Smith, CEO, Adili

In all cases the acquirer has been seeking toeither engender a particular category withsocial, environmental or ethical attributes, or

integrate operational capabilities into theirexisting business. We believe this will continueas established players jostle with each otherto ensure their product and brand portfoliosare relevant to future consumer tastes anddemands.

Related to this will be the continued role fornew entrants. As our research shows,consumers are distrustful of mainstream

retailers and consumer goods companies.However, this distrust is much lower for nicheoperators such as Innocent, Abel & Cole,Dorset Cereals and Ecover. Organisations thatdevelop a unique position will continue toprosper.

What is clear is that there is competitiveadvantage to be gained from looking at yourinternal and external strategy through a

sustainability lens. However, it is unwise to justfocus on external factors, such as brand.Consumers will not tolerate companies thatmake platitudes to sustainability, and suchactions may well be harmful. Companies thatwant to succeed commercially must approachsustainability strategically and with conviction,determination and transparency.


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Sustainability:


Implications for Retailers & Consumer Goods Companies

Risk

Opportunity

Compliance &

Risk Management

Cost Reduction &

Operating

Efficiencies

Revenue Growth

& BrandEnhancement

I think if you ignore the risks thatare out there, you willprogressively marginalise yourbusiness... the flip side is that if

you get it right, the positives are huge.Paul Walsh, CEO, Diageo

Ambition

Where next?The majority of retail and consumer goodsbusinesses have developed some form of

response to the issues of sustainability. Theminimum requirement today is to delivercompliance and risk management. However,responses are becoming more sophisticatedand have begun to address the issues on atactical basis to deliver cost reduction oroptimise resource use.

Further opportunity lies in strategically usingsustainability as a source of defendable

competitive advantage. Brand value, customerand employee loyalty, higher top-line andmargin growth, cost savings and supplyadvantages may be some of the potentialbenefits.

The pace of change is accelerating as a betterunderstanding of the issues and how toextract value from sustainability strategiesdevelops. In addition, regulation is forcing

action. The minimum requirement today willmove rapidly, and the bar is being raised. It isbetter to lead this development than risk beingleft behind as others including regulatorsand consumers set the pace.

Pressure waveThe forces converging on consumer and retailbusinesses are, in combination, extremelypowerful. Their confluence is creating aperfect storm that cannot be ignored. Theemerging combination of consumerempowerment and awareness, pressure onresources and government action are set totransform the retail and consumer environment.

This is not an issue that is going to disappear.Like the growth of online retail it is a game-changing trend. The leaders are making marketinterventions and decisions that haveconsequences for all.

Consumers as catalysts: The long standingperception that sustainability attributes have tocost may ultimately be true for Fairtrade andorganic products; by definition these items are

more costly to produce. However,environmentally friendly attributes such as lowcarbon, reduced packaging, less waste and


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reduced resource use should actually reducecost. This will change the sustainability priceequation. As consumer awareness of this

increases, sustainable products could alsobecome the more affordable alternative.

Retailers as catalysts: Competition amongretailers adds to the pressure wave. We haveseen tactical responses, but there remains anopportunity for a consumer champion tomainstream sustainability. Satisfying demandand removing barriers requires leveraging scale:creating the market by encouraging suppliers to

develop more sustainable products, reducingprice premiums and allocating greater shelfspace and promotion spend.

However, as our research shows, this is not justabout addressing price, accessibility andavailability, although these are significantchallenges, credibility and trust need to be builtto enable better communication of sustainabilitymessages.

Producers as catalysts: The role as innovator tocreate supply and build availability is crucial.Greening of long-established and powerfulbrands presents a number of major challenges.However, the opportunity for innovation andnew products in this space is high.

We have seen significant growth in numerouscategories driven by new entrants. While many

of these remain niche, momentum is buildingand own label development has beensignificant. We are witnessing success stories

from established operators acquiring anddeveloping sustainable from birth brands.

Suppliers also have a role in creating greatertrust and understanding among themainstream. Leading brands have the power tochange and influence behaviours.

Regulators as catalysts: Governments areinfluencing sustainable consumption using taxand regulation, incentivising the good andpenalising the bad. Implications here will not

just be restricted to waste and land-fill taxes or

carbon emission legislation.

Protectionism in the face of scarcity andpotential changes in international tradeinstruments (duty and import agreements) haveimplications for continuity and cost of supply.

Regardless of market position or scepticism ofthe science, consumer awareness, competitoraction, resource scarcity and regulation

changes mean all retailers and consumer goodsbusinesses need to develop a strategicresponse to sustainability issues.

Sustainability:


Were going to see prices comingdown because businesses arenow investing significantly andsome of the scale economies will

flow through to the product we shouldexpect to see some rapid progress in the

demand for sustainable products over thenext few years.Charlie Mayfield, Chairman, John Lewis


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Consumers are ready but need help

Consumers want to live and buy moresustainably but are restricted by barriers;demand is not being satisfied.

The price premium for sustainable productsis likely to come down. Nevertheless, it islikely to persist to some degree for organicand Fairtrade items. However, we believethat environmental sustainability should notcome at a premium. The cost savingsassociated with well managed carbon,packaging, resource and waste reductionstrategies means these attributes can beadded to mainstream products, whilstreducing the retail price. This turns theperception of sustainable products on itshead, and as consumer understanding ofthis develops, expectations will change.

Consumer goods companies and retailerswill need to ensure their products take onthese environmentally sustainable attributesor be superseded by others that do.

Consumers are now at the point where theyincreasingly expect sustainable attributes tobe an inherent part of the products andservices they buy.

It is economically rational to act;

sustainability has internal and externalimplications for costs, risks andcommercial performance

From both a cost and revenue perspective itis evident being sustainable pays. The era ofcheap and readily available raw materialsand energy has gone. Physical supplies arerunning out faster than previously predicted,competition for remaining resources isintensifying, and in the medium-term we are

likely to see changing weather patternsleading to volatile output levels.

The regulatory burden has increased, and islikely to continue. Organisations that predictand react to this regulatory environment willbenefit, and in some cases, will be able toshape regulations to their advantage andthe detriment of competitors.

Doing nothing is not an option

The best run companies will become themost sustainable, and the most successful.Those building sustainable solutions arecreating resilient models for the long termand are generating commercial advantage.

These leaders are changing the rules andraising the bar. The risks of being left behindare too great.

Secure the future with todays actions

Leading organisations are taking thestrategic steps to ensure they are wellplaced to compete in the future. This istaking place via supply chain and sourcingstrategies, as well as capital investments intechnologies that lower energy use, use lessraw material, and improve performance.

There are a variety of options but a clear

strategy is essential

Impacts at all stages of the value chain andin every element of corporate activity meanretailers and consumer goods businessesneed to understand and measure how theirindividual models are impacted. Responseswill vary and change as businesses look todevelop advantage and competitionintensifies. It is essential that credible andtransparent sustainable solutions aredeveloped and embedded in the strategic

decision-making process. Sustainability isnow a business imperative.

Sustainability:


Conclusions

Actions Today for the Future


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For further information please contact:

Mark Hudson

UK Head of Retail & Consumer

020 7804 5141

[email protected]

Erica Hauver

Lead Partner

Sustainability & Climate Change

020 7212 6888

[email protected]

PricewaterhouseCoopers UK Retail & Consumer Group has more than 1,000 people working with all types and sizes of retail and consumer

goods multi-nationals, UK companies, privately-owned organisations, family businesses as well as entrepreneurs and private individuals. The

group provides industry-focused assurance, tax and advisory services to over 75 of the top retailers in the UK. We have specialist teams andindividuals within our service lines, working exclusively with retail organisations.

Our Transaction Services team helps companies to make acquisitions, divestitures and strategic alliances and access the global capital markets.

In each case we have the same overriding objective to help our clients to maximise the return on their deal. We are uniquely positioned to

focus on the longer-term return from each deal as our services span the entire deal spectrum from strategy definition through deal evaluation, to

post-acquisition integration. Within the retail and consumer sector, we have a dedicated team of specialists with strategic, financial and

operational skills, able to offer a multi-disciplinary strategy development and deals advisory service.

PricewaterhouseCoopers is the first major UK advisory firm to offer sustainability expertise fully integrated into all its business consultancy

services. We have over 700 dedicated sustainability practitioners across the firm globally, and a 15-year track record of thought leadership and

hands-on experience, much of it gained with the worlds largest international companies.

As we work collaboratively with our clients to help them understand and manage the sustainability issues they face, we are putting strategic

thinking at the heart of sustainability, and sustainability at the heart of corporate strategy. By combining our specialist capability with extensiveindustry know-how we offer our Retail & Consumer clients advice on both sustainability aspirations and commercial realities, and make those

two different agendas work in tandem.

We can support our clients through the whole process from high-level sustainability strategy to its practical implementation on the ground. We

can look at how evolving sustainability trends could affect your business as a whole, or provide an in-depth analysis of the specific sustainability

issues that concern you most.

Lisa Hooker

Retail & Consumer Leader

Transaction Services

020 7213 1172

[email protected]

Mark ParryRetail & Consumer LeaderPwC Strategy020 7804 [email protected]


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www.pwc.co.uk/sustainability/randc

Please note that this publication is for general guidance only.

2008 PricewaterhouseCoopers LLP. All rights reserved. PricewaterhouseCoopers refers to PricewaterhouseCoopers LLP (a limited

liability partnership in the United Kingdom) or as the context requires other member firms of PricewaterhouseCoopers International Limited

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Sustainability Are Consumers Buying It