As retailers continually increase their investments and commitments to sustainability, one area that has long been a cornerstone of these initiatives is energy management. Often considered the so-called "low-hanging fruit", energy consumption is highly quantifiable, which makes projects to curb consumption easier to measure and verify. So how are retailers approaching energy management?
A new report developed by RILA offers a snapshot of retail energy management programs with an eye on identifying paths forward. Building on the report last issued in 2016, the 2017 Retail Energy Management Industry Report showcases retail respondents' adoption of various energy management practices over the last year as well as since the first report in 2014 and allows retailers to benchmark their progress against their peers.
The report dives into 23 dimensions such as executive engagement, building auditing and re-tuning, and lighting, that together define an effective retail energy management program and marks the average maturity of 44 retail respondents across each. Subsequently, the report identifies several areas in which retailers were most improved over the last three years, as well as areas in which they aim to improve the most by 2019, among other analysis points.
Areas most improved:
- Financial Management
- Project Tracking & Benchmarking
- Landlord Engagement
- Aligning Incentives
Areas to watch:
- Store Engagement
- Systems Procurement
- Strategy & Goals
- Energy Management Systems
- Employee & Vendor Engagement
As energy management continues to be a growing opportunity for retailers to expand their sustainability programs, RILA will continue developing industry resources and helping retail energy executives leverage their collective learnings.
To access the full 2017 Retail Energy Management Industry Report, visit here. For more information on RILA's Retail Energy Management Program, please contact Erin Hiatt at email@example.com.