The Way for Retailers to Cut Utility Costs and Moderate Risks
A 10% reduction in utility expenses is equivalent to the significant upsurge of 8% in sales/sqf for a retailer’s business.
Nowadays, retailers don’t have it easy at all.
The more conscious customer base of all brands now asks for clear understandings of the protocols and standards that are part of the procedures followed by the brands. It is a fact that now 50% of customers go for eco-friendly brands instead of their counterparts and due to this, retailers are taking environment friendly measures to sustain their businesses. The top of the list brands who ensure a better standard of life for their customers outpace their competitors by 120%, which is a persuasive argument in terms of going green.
Mobile business makes about 5.1% of the overall retail sales value at the moment and this percentage is expected to make it to the 17-21% threshold at the end of 2016. Due to mobile commerce, prominent reductions in foot traffic have been observed. The traffic flow has reduced by 3.2% by 2011 and the sales per sqf in the United States have also declined by 5% over the period of 5 years.
The answer is simply to take measures to decrease the utility and resource expenses in the whole organization.
If the utility and resource expenses are controlled, it diminishes the probability of less sales value, controls costs and also enables the retailers to achieve their eco-friendly goals. As the reward, retailers have better profit prospects and more devoted consumers.
Following are the suggestions or better utility and resource management:
- Keep an eye out for other businesses’ maintainability productiveness and learn about their go-to procedures
- Analyze the building’s full condition and categorize them with respect to various factors including type, age, equipment and aptitude for resource control
- Devise and follow a plan to maintain sustainability
- Implement sourcing strategies so as to acquire the most desirable prices and agreements
- Use a central point for the preparation of budget and the associated utility payments
- Implement modern energy and resource gathering systems in new outlets so that only desirable data is gathered
- Supervise and account for utility consumption and carbon emanations through a central platform
- Perform efficiency audits on select stores that represent clusters to identify typical problem areas
- Practice conducting efficiency inspections on outlets so as to determine the areas with undesirable consumption rates
- Examine gathered data so as to suggest new measures for better utility consumption and use
- Make way to develop energy efficient projects which are determined by the factors of ROI and contribution towards the environmental goals.
- Spread the word freely about your eco-friendly standards and norms both within the organization and externally