• Linkdin
Maximize your media exposure with Fibre2Fashion's single PR package  |   Know More

UK firms can benefit from £100bn sustainable innovation

06 Jul '13
4 min read

New consumption models: social media and other technologies are creating new ways of using goods and services and altering business models, including by extending the pay-as-you-live and sharing economy and enabling consumers to live more asset-light lives.  Currently worth approximately one per cent of private sector turnover in the UK, this market involves consumers collaborating with each other to re-use, share, swap or barter goods and services.  Brands can also offer products-as-a-service, whereby goods can be rented rather than sold outright.

Shared value business models: Accenture estimates that businesses could generate cost savings of between £3bn and £29bn  through ‘shared value’ models, whereby they support the communities in which they do business to help create a more active and engaged workforce and reduce recruitment and retention costs. Shared value models can also directly contribute to building customer trust and loyalty.

Transparency and customer engagement:  technologies that improve traceability and customer engagement regarding product origins can boost trust and loyalty, according to Accenture, which estimates that the UK manufacturing sector could also generate cost savings of £3 billion per year.

Business in the Community is calling on more businesses to embrace the opportunity of sustainability. To accompany the report, it will publish a new Sustainable Business Toolkit that provides practical guidance on how companies can create and test new innovative ideas that deliver commercial, environmental and social benefit.

Click here to view the full report 

Marks & Spencer

Leave your Comments

Esteemed Clients

Woolmark Services India Pvt. Ltd.
Weitmann & Konrad GmbH & Co. KG
VNU Exhibitions Asia
USTER
UBM China (Shanghai)
Tuyap Tum Fuarcilik Yapim A.S.
TÜYAP IHTISAS FUARLARI A.S.
Tradewind International Servicing
Thermore (Far East) Ltd.
The LYCRA Company Singapore  Pte. Ltd
Thai Trade Center
Thai Acrylic Fibre Company Limited
X
Advanced Search