MRKT20052: Analysis of Climate Change Impact on Retail Industry Report

This report analyzes the impact of climate change on the retail industry, focusing on marketing implications and sustainable practices. It reviews an article discussing how brands are capitalizing on consumer trends to promote sustainable fashion. The report identifies key issues such as the need for sustainable products and services, ethical considerations, and the influence of celebrities on consumer behavior. It explores the use of business intelligence and marketing strategies, including sustainable development goals (SDGs), environmentally friendly products, and the role of marketing and advertising in promoting sustainable practices. The report also examines the impact of climate change and the necessity for retail industries to adopt new technological innovations to mitigate its effects. In conclusion, the report emphasizes the importance of sustainable development, ethical considerations, and the adoption of sustainable products and services for the growth and success of the retail industry.

RUNNING HEAD: CLIMATE CHANGE 0
climate chnage
Report
DECEMBER 21, 2019

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Table of Contents
Impact of climate change...........................................................................................................2
Key issues in the retail industry..............................................................................................2
Issues related to climate change.............................................................................................2
Marketing perspective on issues.............................................................................................2
References..................................................................................................................................5

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Impact of climate change
Key issues in the retail industry
Innovations are helpful in the crisis of business. Moreover, retail industries have
changed in their products and services because of various issues (Baden-Fuller & Haefliger,
2013). There are various issues in the retail industry because of climate change, such as
sustainable products and services. Most of the businesses have suffered because of climate
change. I will critically review the article ‘How brands are capitalising on the ‘Markle
Sparkle’ and consumer trends to push sustainable fashion’. According to (Rigby, 2019), the
retail industry has affected climate change. Thus, the retail industry should adopt sustainable
products and services for its consumers. It has increased its sales and profit. Moreover, basic
services can be improved using new technological innovations. The author has considered a
different issue in this article, which are ethical issues, climate change, and the retail industry
marketplace.
The main concern in this article is about the impact of celebrities on people and the
retail industry. It can be used for improving the sales and growth of the company. In addition,
sustainable development is necessary for reducing various issues in the retailer industry.
Issues related to climate change
Issues can be solved using various approaches, as technology and innovation.
Business intelligence (BI) is a solution for such types of problems (Isik, Jones, & Sidorova,
2013). There are various solutions to issues and challenges in the retail industry. According to
the author, celebrities can change the thoughts of people, which has followed in millions. As
an example, Meghan Markle has worn outland jeans, which have sold out. According to the
article, sales of the product have increased by 1000% and website traffic has increased by
958%. It has impacted on hiring as well. Outland had made 46 new hires to manage various
processes.
In addition, ethical issues have raised in the retail industry because some industries
have not followed rules and regulations. It has impacted the climate of the overall world.
Moreover, customers have used basic services as a firm to manage their requirements.
However, the fashion industry can use such types of things, which has promoted sustainable

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products and services. According to new rules and regulation of climate change, retail
industries must develop sustainable products, which are 100 % recyclable.
A marketing perspective on issues
People have noticed about climate change and other things, which has created issues
for their present and future generations. Most of the companies have used sustainable
development goals (SDGs) for improving their products and services. Moreover, customers
have used various products and services to improve their market values. It can be useful for
its growth and success. The author has provided various solutions to climate change issues,
such as environmentally friendly products and services. Moreover, Meghan Markle has worn
a dress, which makes a huge impact on the market. Thus, such type of marketing strategies
can be used for better business in the retail industry. A business information system can
provide help in this process (Maryska & Sladek, 2017).
The author has discussed the modern slavery act, which came from the business
community and the NGO sector. Most of the industries have followed SDGs in their business
functions, which are good for their growth and overall world. The government agencies have
monitored all the industries to follow rules and regulations, which has based on suitable
development (PWC, 2015).
There are various countries in which people are interested in the sustainable
development of various industries, which will help in achieving SDGs, For example, the
Chinese want to use recyclable products, which are better for their health and climate.
However, Australia has lagged in a few areas, such as packaging and waste. Thus, it is
necessary to develop sustainable processes for various industries. It will reduce the reason for
climate change (Donovan, 2017).
Moreover, there are various products and services, which are necessary to improve the
growth and productivity of an industry. In addition, the Retail industry can be used SDGs to
improve their products and services. The article has discussed the impacts of climate change
and ethical issues in the retail industry (Schiano, 2018). Additionally, climate change is a
huge issue in front of the whole world. However, industries are ready to adopt new
innovations, which are based on low-carbon innovations (Kramer, 2013). The retail industry
can be used in various marketing strategies to aware people about sustainable development
and its benefits, such as direct and indirect marketing, social networking sites, content

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marketing, and many more. In addition, the retail industry can use marketing and advertising
for business growth, which is good for users as well (Brown, 2018).
Furthermore, the retail industry must adopt new technological innovations, which are
helpful for reducing the impact of climate change (Pretorious & Ford, 2016). In addition, the
target audience should know about the changes in the retail industry, which is better for
implementing changes. There are various business functions in the retail industry, which can
reduce the reason for climate change, such as the transportation of goods (Lily, 2018).
In conclusion, the author has explained the role of marketing and sales in the retail
industry. He has included climate change and ethical issues in the retail industry, which is
necessary for sustainable development. Moreover, this report has reviewed the article based
on the various critical factors. This article has provided a message to its audience about
sustainable development and SDGs. Finally, the retail industry must adopt sustainable
products and services to improve their business growth in the market as well as consider
ethics in their business. In the retail industry, sales and marketing make a huge impact on
their growth and success.

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References
Baden-Fuller, C., & Haefliger, S. (2013). Business models and technological innovation.
Long range planning, 46(6), 419-426.
Brown, N. (2018). Reflective model according to Kolb. Retrieved April 17, 2019, from
http://www.nicole-brown.co.uk/reflective-model-according-to-kolb/
Donovan, C. (2017). Climate change is the new big risk for business. Retrieved January 13,
2019, from https://www.imperial.ac.uk/business-school/knowledge/finance/why-
companies-must-accelerate-climate-risk-investment/
Gray, D. E. (2007). Facilitating management learning: Developing critical reflection through
reflective tools. Management learning, 38(5), 495-517.
Isik, O., Jones, M. C., & Sidorova, A. (2013). Business intelligence success: The roles of BI
capabilities and decision environments. Information & Management, 50(1), 13-23.
Kramer, M. (2013). Climate change as real business risk. Retrieved January 13, 2019, from
https://www.greenbiz.com/blog/2013/04/24/climate-change-real-business-risk
Lily, T. (2018). Climate change presents risks, but there are ways for investors to take part
in positive change. Retrieved January 3, 2018, from
https://www.morganstanley.com/access/risks-and-opportunities-of-climate-change
Maryska, M., & Sladek, P. (2017). Management of business informatics and performance
management. Journal of Systems Integration, 8(1), 13-21.
Pretorious, L., & Ford, A. (2016). Reflection for Learning: Teaching Reflection Practice at
the Beginning of University Study. International Journal of Teaching and Learning
in Higher Education, 28(2), 241-253.
PWC. (2015). Climate change - the next emerging risk for your business? Retrieved January
13, 2019, from https://www.pwc.co.uk:
https://www.pwc.co.uk/services/sustainability-climate-change/climate-risks-and-the-
fsb-task-force.html

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Rigby, B. (2019, April 17). How brands are capitalising on the ‘Markle Sparkle’ and
consumer trends to push sustainable fashion. Retrieved from
https://mumbrella.com.au: https://mumbrella.com.au/how-brands-are-capitalising-on-
the-markle-sparkle-and-consumer-trends-to-push-sustainable-fashion-575396?
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Schiano, S. (2018). Climate Change Is Transforming Business. Retrieved January 13, 2019,
from https://www.forbes.com:
https://www.forbes.com/sites/forrester/2018/10/11/climate-change-is-transforming-
business/#7cbd71f92f47