In a recent article called: The five zeros reshaping stores, issued on March 16, 2022 in McKinsey insights, authors; Tiffany Burns, Tyler Harris, and Alexandra Kuzmanovic talk about consumers and the fact that “Consumers now demand much more than value and convenience—and tolerate fewer shortfalls.”
The article warns retailers about inaction: “As changes accelerate in consumer behaviors and attitudes, retailers with “wait and see” approaches will only fall further behind. The bad news may not be apparent immediately, since frustrated or disappointed shoppers may not lodge a complaint. Instead, they may simply walk out the door or abandon their shopping carts, never to return. They will find another retailer that understands them and moves fast to meet their needs.
There’s no time to waste—the race to zero has already begun.”
As part of the five zeros theory, authors highlight sustainability, an element that half of the Gen Z and millennial consumers say they’re aware of brand’s commitments to sustainability. More than half of Gen Z and millennial consumers say they’re aware of brands’ commitments to sustainability, and more than 40 percent consider sustainable practices in their purchases, spurring a rise in preowned items in the circular economy.
In Italpack, for the last 35 years, we have developed a portfolio ofr sustainable alternatives to plastic packaging, yet not perfect but contributing to significantly decrease unnecessary usage of plastic because we use cardboard, a renewable raw material.
Link to McKinsey article: https://www.mckinsey.com/industries/retail/our-insights/the-five-zeros-reshaping-stores
