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Marketing Sustainable Retail Development

Author

Listed:
  • Dragan Ilic

    (EDUCONS University, Serbia)

  • Jasmina Stankovic

    (EDUCONS University, Serbia)

  • Stanko Ilic

    (The University Business Academy, Serbia)

Abstract

One of the primary benefits of sustainable retail over the long run has to be the marketing gain from having something other competitors do not: lower operating costs, a more socially responsible public profile, ease of gaining planning approval for new projects, better access to certain investment pools, higher rents (in the case of developers), ease of recruiting and retaining key people. Each of these benefits needs marketing and public relations support; each benefits from a clear and consistent corporate message that promotes sustainable retail. To date, there are very few retailers or developers who have championed sustainability long enough, consistently enough and with enough actual demonstration of changes in standard operations to gain the benefits of green marketing, but the very paucity of examples serves to underscore the point: the green marketing space is wide open for large retailers and developers. What would be the marketing steps that a company could take to benefit from its 'sustainability focus?' The key to any marketing program is to differentiate a company's actions from those of competitors and to do it along lines that its various stakeholders care about. This practice of differentiation is often expressed as 'finding a difference that makes a difference, to someone who makes difference to you.' For retail developers, the first differentiator should be to attract more and better tenants to all of their centers, tenants who value lower operating costs and the developer’s program of sustainable development and corporate social responsibility.

Suggested Citation

  • Dragan Ilic & Jasmina Stankovic & Stanko Ilic, 2013. "Marketing Sustainable Retail Development," Journal of Economic Development, Environment and People, Alliance of Central-Eastern European Universities, vol. 2(2), pages 50-59, June.
  • Handle: RePEc:sph:rjedep:v:2:y:2013:i:2:p:51-60
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    More about this item

    Keywords

    marketing; sustainable retail; environmental protection; development;

    JEL classification:

    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • L81 - Industrial Organization - - Industry Studies: Services - - - Retail and Wholesale Trade; e-Commerce
    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development

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