sustainability tfl report

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Americas and Global Interface

Christian Achenbach
Communications Manager
Avery Dennison Smartrac

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New foresight report calls on business to go beyond sustainability towards regenerative retail

GLENDALE, Calif. – September 16, 2021 — Ahead of COP26, Avery Dennison, the global leader in materials science and manufacturing, has teamed up with forecasting consultancy The Future Laboratory, to release a new report: Regenerative Retail Economy. The report is released at a time when the United Nations Framework Convention on Climate Change has challenged retailers to ensure that 20% of the retail industry by revenue is committed to net zero by 2023, and that the entire sector reaches net zero by 2050 at the latest.

This report combines expert interviews with consumer insight and identifies the emerging trends and attitudes that will drive transformation in the decade ahead. It highlights the groundbreaking technologies which will fundamentally change how retail and consumer brands do business as well as breakthrough approaches to e-commerce and omnichannel retailing. 

Tyler Chaffo, manager of global sustainability at Avery Dennison Smartrac says, “This is a time of huge disruption as the retail sector looks to recover from the COVID-19 pandemic as well as face the challenges of climate change. This report lays out the bold actions required to help retailers transition to net-zero and a regenerative retail economy. In a regenerative retail economy, retailers, manufacturers, suppliers, brands and consumers will each take responsibility and ownership over the collective need for a more sustainable future.”

The digital report, which is available free of charge, includes three predictions for the future of retail exploring the importance of pro-planet packaging, openly and transparently communicating environmental impact, and radical collaboration, which calls not only on governments to move the world to net-zero carbon emissions, but also on business and civil society.

The report highlights that technological investment will be crucial to building a regenerative retail economy, as retailers are moving towards regenerative systems. Research shows that 77% of business leaders listed environmental sensors and IoT as important to meeting their sustainability goals with more than one-fifth claiming to have accelerated their digitalization plans by three years

Rob Groen in ‘T Wout, marketing director paper & film, Avery Dennison Label and Packaging Materials comments, “The combination of materials and digital solutions will play a critical role in building a regenerative retail economy. This means recovering and recycling materials at a faster rate than we are using them and creating greener last-mile solutions for packaging, shipping and returns as e-commerce grows. It means digitizing the supply chain so retailers can have a better understanding of their inefficiencies and waste to create more circular business models. And it means not only promising to preserve the planet, but also proactively contributing to make the natural world a better place for all its inhabitants.”

To read the report click here.

Media contact
Christian Achenbach
Communications Manager, Avery Dennison Smartrac
christian.achenbach@eu.averydennison.com

Jack Pepperell
Content Specialist, Avery Dennison - Labels and Packaging Materials
jack.pepperell@eu.averydennison.com

Media kit
Regenerative Retail Economy Report: click here
Captions: click here
Press images: click here

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About Avery Dennison
Avery Dennison (NYSE: AVY) is a global materials science company specializing in the design and manufacture of a wide variety of labeling and functional materials. The company’s products, which are used in nearly every major industry, include pressure-sensitive materials for labels and graphic applications; tapes and other bonding solutions for industrial, medical, and retail applications; tags, labels and embellishments for apparel; and radio frequency identification (RFID) solutions serving retail apparel and other markets. Headquartered in Glendale, California, the company employs more than 32,000 employees in more than 50 countries. Reported sales in 2020 were $7.0 billion. Learn more at www.averydennison.com.

The Future Laboratory
The Future Laboratory is one of the world’s leading strategic foresight consultancies. It exists to help companies make a better future by giving them the confidence to take the decisions today that will create economic, environmental, technological and social growth tomorrow. From its offices in London and Melbourne, The Future Laboratory offers a range of strategic foresight products and services to help its clients harness market trends, adapt to emerging consumer needs, and keep them ahead of their competitors. Stay on top of the latest consumer trends and market shifts by visiting its trends intelligence platform, lsnglobal.com, and find out more about its client work at www.thefuturelaboratory.com.