Chemical Safety, Driving Profits and Good Publicity for Retailers
Businesses large and small are quickly taking notice of an increasing trend in their consumer base. Millennials, who are now a large target demographic for many industries, are more likely to purchase products that are safer for them and the environment and that have been produced ethically. But it is not just the millennials that have shown an increased desire for safer products, consumers across a wide variety of demographics have been voicing their desire for safer chemical usage.
According to an article published by Greenbiz, “As consumers increasingly seek more sustainable products, retailers — especially large retailers — have become a new voice for the chemical safety of the products they sell…”, which shows an increasing trend towards safer products overall. Larger retailers have been setting the standard for safer, less chemically-harsh production in the consumables they sell. This has seen an increasing trend that trickles down to smaller retailers as well. The reason for this is that safer products have been selling well.
Greenbiz also noted that, “these retailers are broadening the definition of a quality product by making consumers more aware of the health and environmental values of products, particularly chemical hazards...”, which has benefited consumers, other retailers, and the environment alike.
This trend has been growing steadily and appears to be getting stronger. While not all products currently have chemical regulations surrounding them, large markets such as the European Union and California do. Regulations REACH, CA Prop 65, and the RoHS directive all can have an impact on a business's supply chain efficiency. Companies looking to expand or continue their business in these regions are taking proactive steps to ensure that their supply chains remain undisrupted and subsequently, their businesses stay profitable.
To find out how Source Intelligence can help you meet these regulatory goals, click here.