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Retail

Ethical Practice on the Agenda at TCGF Summit

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Ethical Practice on the Agenda at TCGF Summit

24 Jun – Joanne Denney-Finch of IGD was among the many speakers on the first day of The Consumer Goods Forum Global Summit to call for a more ethical approach to both products and business practice, on a day that was subtitled ‘Winning in a Consumer-led Future’. “Ethical values offer us a big opportunity to build trust and customer loyalty, to energise our employees and revitalise growth,” she explained, in one of the best-received speeches of the day. “Shoppers are including ethical judgements more in their shopping decisions, but they don’t want to pay a lot more – they want value for their values. We asked them to look two years ahead and predict where they’ll be spending more. In all four countries, shoppers expect to be spending more on all the ethical areas we asked about. They want to make a bigger difference through their shopping choices and they want companies to help.” Denney-Finch also outlined a number of examples of FMCG manufacturers and retailers raising ethical standards, and called on food and grocery manufacturers to ‘do the right thing’, both for their shareholders and for the wider society. “Be focused. Choose a small number of things that you want to be famous for, and make sure they are things you really believe in and where you can make a big difference. Find them in the heart and soul of your company. Don’t expect a quick and direct financial return, but over time the benefits will accumulate.” The IGD chief executive appeared ahead of Waitrose’s Mark Price, whose keynote address focussed on a similar topic, ‘Food Within Nature’s Limits’. Price also unveiled at the event that come this autumn, around 200 new Duchy Originals products are to hit its shelves, just the news that keynote speaker Prince Charles wanted to hear as he took to the podium. The new consumer, the speakers argued, wants higher ethical standards, but doesn’t want to have to pay through the nose for it – in effect, they want ‘better values for their value’. A joint presentation from Tesco’s Sir Terry Leahy and Unilever’s Paul Polman addressed this head on, with Tesco highlighting the recent investment it has made in reducing both deforestation and the environmental impact of its refrigeration units. Polman, too, highlighted how Unilever has done a lot of work in improving its refrigeration, converting some 1.5 million ice cream cabinets around the world to use HC technology. © 2010 - ESM: European Supermarket Magazine

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