The report offers an actionable guide for consumer companies to future proof their businesses by adopting synchronised, smart, and sustainable business models, and includes contributions from experts with executive experience at L’Oréal, Marks & Spencer, Pernod Ricard, Danone, and Forvis Mazars.
Expert opinions from the world's leading consumer companies
Data quality (37%) and data tracking (28%) are the top two impediments to producing a sustainability report.
37%
Most businesses already produce a sustainability report.
65%
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.
How ESG and technology can enable resilience and adaptability in the consumer sector
Businesses plan to increase investment in sustainability initiatives in 2023.
68%
using technology to accelerate the ESG transition in the consumer sector
Sustainable, smart, and synchronised:
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.
Over a third are “completely ready” to meet new ESG reporting requirements; another 38% are “mostly ready”.
36%
“Shoppers' conflicting demands - as both consumers and citizens - place new and sometimes contrary pressures on the consumer sector. Yet, through both digital and sustainable transformation, companies can strategically and systematically future proof themselves for the evolving demands of new cohorts of consumers.”
using technology to accelerate the
ESG transition in the consumer sector
Sustainable, smart, and synchronised:
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Isabelle Massa
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Partner & Head of Consumer, Forvis Mazars Group
Isabelle Massa
Partner & Head of Consumer, Forvis Mazars Group
Investing in a sustainable future
59%
of consumer CxOs have budgeted costs for implementing sustainability strategies and reporting.
of companies say data quality challenges are one of their biggest obstacles to sustainability reporting.
45%
of consumer company CxOs say transforming company technology is one of their top strategic priorities.
33%
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.
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