Finland's S Group Brands Ranked 'Most Responsible': Index
The bank, hotel, and grocery arms of Finnish retailer S Group were found to be ‘the most responsible' players in their industries by the 2018 Nordic Sustainable Brand Index.
The study involved more than 35,000 consumers, who ranked brands according to their perception of how responsible they were.
Brands were selected on the criteria of market position, share, turnover, and total brand awareness. Each brand was assessed by at least 1,000 respondents over the age of 16.
The study also examined trends and responsibility ‘drivers’.
United Nations Global Compact Initiative
The study was based on the United Nations Global Compact Initiative, which is comprised of ten principles on social and environmental responsibility. These include abolition of child labour, elimination of discrimination in the work place, and protection of international human rights.
The recognition of hypermarket chain Prisma, Sokos Hotels, and S-Bank as responsible brands resulted in the S Group’s Domestic Product Range being ranked as the second most responsible Finnish brand, the company said.
"Throughout this year we can see that in consumer trends both climate issues and sustainable consumption are emphasised," said sustainable brand index CEO Erik Hedén.
The S Group is made up of regional cooperatives, including the Finnish Cooperative Society and its subsidiaries, and has more than 1,600 outlets in Finland.
The company's most recent sales figures from March revealed that its hypermarket format, which other retailers have been downsizing due to poor performance, saw its sales grow by 4.3%.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Karen Henderson. Click subscribe to sign up to ESM: The European Supermarket Magazine.