The English version is AI translated.

Continue
Issues

06.2019 Office Talk

Challenges and Opportunities for Retail Industry being Sustainable

Far Eastern Department Store / Zheng Jiahui
        "CSR-HR = PR, if employees do not participate, corporate social responsibility will become an exercise in public relations!" Mr. Jian Youxin, independent director of Far Eastern Department Store, appealed in his speech on " Challenges and Opportunities for Retail Industry being Sustainable" that this is a new era of CSR with everyone being involved and reminded enterprises to pay more attention to the challenges of governance, social and environmental risks while pursuing sustainability and evergreen growth.

In the Far Eastern Department Store Enterprise Sustainability Forum held on April 16, Mr. Jian Youxin, Chairman of Sustainability Development Goals Alliance and Taiwan Institute for Sustainable Energy was invited to share his multiple observations on challenges and opportunities arising from the pursuit of sustainable development in retail industry with the topic of Challenges and Opportunities for Retail Industry being Sustainable". The forum was personally hosted by General Manager Nancy Hsu, and about 60 shopkeepers in the whole Taiwan and managers of the head office attended.

Chairman, Mr. Jian Youxin, first mentioned that the United Nations set Sustainability Development goals by adopting The Paris Agreement in 2015, which is a transitional period of human history. Enterprises should pay attention to risks for sustainability caused by the external factors brought by policies and regulations, technological innovation, market transformation and reputation impact on investment. He also reminded enterprises that it must be clean and transparent in governance, avoiding infamy of sweatshops and pay attention to natural and human hazards in environment.
        From the top ten global consumption trends in 2019, we can find that:
1. Everyone is an expert: In marketing activities, it is necessary to emphasize the important position of consumers as the dominant power. Individualized and customized products and services can be more popular with consumers.

Second, I can take care of myself: Consumers are increasingly aware of the pitfalls of social media, and they will pursue more "real" experiences, products and marketing methods.

3. I want now: Speed (including the introduction of new goods and distribution) has become a key factor affecting the success or failure of retailers. Enterprises can make use of science and technology to greatly improve sales efficiency. In particular, user information provides a guide to products and services for enterprises. AI and network saves time and money for consumers.

4. Return to the truth: Consumers reject the products with complex attributes, prefer simple quality products, and expect real differentiation and experience to express their personality.

5, I want a world without plastic: The proportion of consumers choosing to buy environmentally friendly packaged food or fresh food has increased dramatically, with more than 290 companies worldwide signing pledges last year to resisit plastic pollution.

6. Digital communication: Affected by this trend, enterprises change their products and services. People's daily consumption is mostly accomplished through the Internet platform. New technology promotes the development of online interaction and makes life more efficient.

7. single life: People over 50 are changing the trend of single life. This generation is usually richer, but they are not the only generation to experience single life.

8. Age agnosticism: Mature consumers expect products and services that will keep them physically and mentally young.

9. Conscious consumers: "Conscious consumers" know how to care, will try to make positive purchasing decisions, and hope to solve the negative impact of consumerism on the world.

10. Looking for the joy of missing: Social networking gives us the illusion that everyone should do something exciting, say (or publish) something that others recognize. Nowadays, instead of being afraid to miss and be ignored, we begin to enjoy ourselves again.

After Chairman Jian Youxin talked about"Challenges and Opportunities for Retail Industry being Sustainable", Chief Operating Officer, Lin Zhangkun, Chief Planner, Liu Zhicheng, Chief Financial Officer, Tongzhiya and Marketing Manager Hong Yuanhong all asked questions, hoping to help Far Eastern Department Store find a new direction of high quality and sustainable development. In his response, Chairman Jian Youxin mentioned that Far Eastern Department Store is expected to highlight brand value with CSR, define the spindle of CSR, concentrate resources, and work with supply chain counter manufacturers and all employees to build up consumers' patience towards the goal of pursuing sustainability, saving materials, saving energy and reducing carbon and make Far Eastern Department Store become a sustainable enterprise with high credibility and all employees can “walk the talk”
Back  Back To List
Comments(0)

Recommend

Events