Sustainable, smart, and synchronised: using technology to accelerate the ESG transition in the consumer sector
Mature markets are experiencing a shift in consumer demand patterns as consumers move away from traditional products and services towards those consistent with environmental, social, and governance goals. Our study ‘Sustainable, smart, and synchronised’ explains how consumer companies can harness ESG and digital transformation to thrive in this changing environment.
The report offers an actionable guide for consumer companies to future proof their businesses by shifting to synchronised, smart and sustainable business models, and includes contributions from experts with executive experience at L’Oréal, Marks & Spencer, Pernod Ricard, Danone, and Mazars.
[#LetstalkConsumer] EP02 Alice Strevens, Human rights & Social Impact, Asociate Director, Mazars
How ESG and technology can enable resilience and adaptability in the consumer sector.
While companies have made progress on improving ESG performance – pressured by consumers, investors, regulators and even from within –a more radical rethinking of objectives and business models is necessary. To be future-ready, consumer ccompanies must embrace sustainable, smart, and synchronised business models.
Technology will be a key enabler of this business transformation towards sustainability. Businesses must leverage digitalisation to completely reimagine products and processes, including reducing their environmental footprint, enhancing their positive social impact, and enabling them to foster and maintain consumer relationships.
This report provides actionable insights on how businesses can successfully respond to a triple challenge: meeting consumer demands, putting sustainability at the forefront of their business, and executing a digital transformation.
Find out more: https://www.mazars.com/Home/Insights/Latest-insights/2023-consumer-sector-report
To accelerate transformation, companies must measure and optimise ESG performance and leverage new technologies.
Sustainable, smart, and synchronised outlines strategic steps such as shifting key performance indicators, collecting data on relevant metrics such as biodiversity impacts or supply chain labour rights, and creating meaningful and actionable insights to drive strategy and progress on sustainability.
On the tactical level our study offers a step-by-step guide to operationalise transformation, such as building a mix of talent and skills across the business and board level, improving diversity, working with suppliers to improve efficiency and ESG outcomes, or collaborating with other companies and stakeholders.
“Shoppers’ conflicting demands - as both consumers and citizens - place new and sometimes contrary pressures on the consumer sector. Digital and sustainable transformation help consumer companies strategically and systematically future proof themselves for the evolving demands of new cohorts of consumers.”
Isabelle Massa, Partner, Mazars
Read our new report to learn about how to prepare your business for this new era. Full report below.
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