National retailers are increasingly concerned about energy efficiency and are refocusing efforts to promote cost-saving, sustainable business practices, according to the findings of a new survey.
Energy services firm Prenova, Inc., announced the results of its
second-annual Energy Management & Sustainability Strategy survey of nearly 200 retailers. Key findings include:
- 63% of retailers reported that they have a formalized energy management/sustainability program, with 45% indicating that sustainability is a "key component" of their overall business strategy Only 5% of retailers admitted their organization doesn't worry about energy management/sustainability, yet twice as many lack specific programs to address these issues
- 60% of retailers stated that saving money is their primary reason for pursuing sustainable business practices, while approximately 8% were more concerned about enhancing their corporate image
- Common sustainability projects include installing energy efficient lighting (80%), conducting onsite energy audits (50%), and implementing energy management systems (45%)
- While sustainability is clearly important to retailers, so far, only 21% are using renewable sources to meet a portion of their energy needs
"This year's survey clearly shows that more retailers are focused on energy management, and that they're working harder to achieve their sustainability goals, but they're less certain about their achievements," said D. Scott Beaver, Prenova's Director of Marketing. "Last year, over 45% of retailers thought their sustainability efforts made them industry leaders. In 2010, less than 25% think so. There seems to be a better understanding of what it takes to truly lead the industry."
The survey includes responses from a broad spectrum of retailers, including local, regional, and national chains. Approximately one-third of survey respondents worked for chains with 500 or more locations and at least $1 billion in annual revenue, while over 40% worked for chains with fewer than 50 locations and less than $250 million in revenue.
A detailed analysis of survey results can be downloaded for free from either the Prenova or Chain Store Age website.
