Retail companies connect the global goods marketplace and local communities. While their businesses may operate worldwide and their products are sourced globally, retailers bring employment, economic vitality, and a cultural foundation to the local neighborhoods in which they operate. To weigh these diverse and far-reaching priorities, retailers build bridges to a broad set of stakeholders, beginning with shareholders, employees, and customers and extending to governments, nonprofits, academic institutions, and local community organizations.
- Companies are strategically engaging their stakeholders in the ways that are most relevant for each.
- Pressure for retail sustainability efforts is strongest from employees, competitors, and regulators.
- Companies can educate consumers through a variety of channels.
- Collaboration is becoming imperative for effective sustainability action.