The business trend that unites Walmart and Tiffany & Co
As the world of business continues to evolve, it can be inspiring to see two different types of companies come together under the same trend. Walmart, the down to earth mega-retailer, and Tiffany & Co., a luxury purveyor of excellent goods, have this in common – both businesses have jumped on the sustainability bandwagon. This article looks at how these two very different companies are tackling the monumental task of sustainability and how it is affecting their operations.
1. Walmart & Tiffany & Co: United by a Surprising Business Trend
Walmart and Tiffany & Co are two brands that are well-known, but rarely considered in the same light. However, there is an emerging business trend that ties the two together: sustainable packaging initiatives. It can come as a surprise, but both Walmart and Tiffany & Co are focusing their efforts and resources towards creating more sustainable packaging.
This sustainability-focused trend has been seen with Walmart, which in 2020 launched the 2030 goal of achieving 100% recyclable, reusable or compostable packaging through its suppliers. This initiative covers all aspects of the packaging process, and the ultimate goal is to source global supplies of sustainable packaging for Walmart’s products. Tiffany & Co has also been proactive in its sustainability efforts, attempting to reduce – or even better, eliminate – paper and plastic packaging materials. As of July 2020, they have replaced the majority of their luxury blue boxes with recyclable packaging that uses 93% less plastic.
2. From Bottom to Top: How the Unlikely Alliance Came to Be
Miracles do happen! At least that’s what two unlikely groups of people showed the world; a ragtag group of pacifists, and a surprisingly compassionate militia. This unlikely alliance provided hope and relief to a region that had been mired in hatred and violence for generations.
This story starts in the gaping valley between the two groups, where tensions ran high and each new conflict seemed to bring fresh floods of rage and animosity. But a little spark had been kindling for some time, and it rose slowly in a group of peace-loving rebels who wanted something better. With courage and determination, they endeavored to take a stand against the violence and push for peace.
- The underdog pacifists knew they could not match the violence of their adversaries.
- In a daring move, they reached out to the very militia they had been combatting for years.
- Unexpectedly, the militia responded to the rebel’s peace initiative positively.
Surprising both sides, a tentative alliance was forged. A groundbreaking agreement was made that would create a roadmap to lasting peace. For the first time in decades, hope was born in a region blossoming with previously unimaginable possibilities.
3. The Rise of Sustainable Business Practices: An Unholy Alliance is Born
Sustainable business practices have become fashionable in the corporate world. From reducing energy consumption and switching to renewable sources to minimizing plastic use, companies have begun to adopt sustainability initiatives in order to remain competitive in this environmental age. Invisible forces are at work behind the scenes, however, pushing companies to make this shift.
What is it that has caused this sudden surge in sustainable practices? It is a combination of pressure from the public, the increasing cost of powering operations with traditional energy sources, and the potential cost savings available to companies who embrace sustainability. Pressure on businesses means that many are acting on initiatives that they would have once considered unattainable.
The results are astonishing. Companies are:
- Investing in green technology
- Incorporating eco-friendly materials into production
- Adopting sustainable practices into their overall strategy
- Focusing on reducing energy consumption
This alliance between companies and sustainability has become a powerful and unyielding force. Innovative minds are producing ideas which challenge the status quo and drive towards a more ecological world. Companies that embrace these ideas are at the forefront of the sustainability wave and show a commitment towards a sustainable future that all of us can be proud of.
As Walmart and Tiffany & Co. demonstrate, even the most disparate of businesses can come together in agreement. By crossing the boundaries of brand and industry, these two companies have provided a shining example of creative business success that sets the stage for future trends.