Insights into sustainable retail start-ups in Europe
We’ve partnered with the strategy and management consultancy Vertone to research and better understand what drives the expansion and success of sustainable retail start-ups in Europe. Using data gleaned from our latest Westfield Grand Prix competition, we analysed almost 200 young retail companies to highlight key trends, challenges and opportunities in the evolving retail landscape.
Want to see what the future has in store?
Our key learning: the future of retail is right here – and it's sustainable, innovative and driven by young, female entrepreneurs!
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Physical Expansion – Many digitally native brands are opening physical stores to complement their online presence. Retail start-ups are increasingly adopting omnichannel strategies to enhance customer engagement and drive growth. Start-ups with 4-6 years of operations are more likely to explore new distribution channels, including wholesale and omnichannel approaches.
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Global reach – Retail start-ups are increasingly looking to expand internationally to tap into new markets. They typically do this after around four years of operations. 50% of fashion and accessories start-ups are showcasing their products globally. Germany and Austria lead in international distribution, with 61% of their start-ups selling products internationally.
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Sustainability as a core business model – Sustainability commitments are driving business models for many retail start-ups: 85% of start-ups claim to have a positive environmental, social or animal welfare impact.
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Young, female entrepreneurs are leading the way – The study highlights the significant role of young and female entrepreneurs in driving sustainable retail innovation. 66% of the sustainable retail start-ups were founded or co-founded by women. 60% of these were founded by junior entrepreneurs, with the UK leading in this demographic.
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Consumer education and transparency – Educating consumers about sustainability is crucial for building trust and driving responsible consumption.
By embracing omnichannel strategies, committing to sustainability and expanding internationally, these start-ups are not only transforming the retail landscape but also setting new standards for responsible business practices. The leadership of young, female entrepreneurs further highlights the inclusive and forward-thinking approach driving this sector.
Learn more about the “See what the future has in stores?” study here
Or at Vertone: https://vertone.com/en/
