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Key takeaways from D-Congress 2024
– HOW CAN RETAIL TAKE THE LEAD IN THE GREEN TRANSITION?
D-Congress theme 2024 centred around how retailers can pioneer the transition to a more circular economy. During the event, industry leaders shared valuable insights on how they proactively address today’s sustainability challenges.
The congress is where Swedish e-commerce meets to develop the business and discuss the latest news and trends. Arranged by Svensk Handel (Swedish Commerce), this is the largest e-commerce event in the Nordic countries, bringing together several thousand professionals every year. A leading platform for exploring the latest trends, networking, and sharing insights.
Here are our key insights from the different sessions and panel discussions:
Swedish trade can be a driving force for a green transition
With the theme ‘Innovation for Impact’, the event focused on sustainable innovation and the retail sector’s transition towards a more circular economy. Today, global retail accounts for 11% of the climate footprint. Research and innovation are key to managing a green transition. In Sweden, retail accounts for 12% of GDP, however only 0.34% of research funding goes to the sector.
“It’s too bad. There’s too much focus on the significance of industry, agriculture, and transportation in the transition. Here, we need to step forward and take up more space,” said Sofia Larsen, CEO Svensk Handel.
Swedish retail is well positioned to drive sustainability on the international level. The general belief is that the industry that should drive transformation, while trusting the power of the consumer to create change. Swedish trade can take the initiative and lead globally – from factory to transport to end customer.
“Trade is a key factor to succeed with the transition. Trade has the contact with customers, the purchasing and transport chain. We have enormous opportunities to influence and this needs to be made clearer,” said Sofia Larsen.
Additional insights to consider
Per Schlingman, PR Consultant and writer, said that Sweden needs a new green narrative.
Scandinavian consumers are generally recognised as early adopters, quick to pick up on trends, and Sweden is an innovative leader in industry, gaming, and technology. We have music wonders, design wonders… why not sustainability wonders? It’s time to take the lead and dare to tell a positive story.
80% of sustainable development opportunities lie in the design phase. Companies should prioritize circularity from the start of product design.
Let’s partner up more to innovate new materials and business models. Lindex and Södra have created new sustainable materials. IKEA and Samhall collaborate to create valuable tasks for Samhall employees and more efficient handling of IKEA 2nd-hand/preloved products.
The future of sustainable transports & e-commerce deliveries: We are currently experiencing a system change with electrification of transport, which will have a positive impact on retail. Retailers and energy companies need to cooperate here.
A key question was how digitalisation can accelerate companies’ sustainability efforts: by analysing, digitalising, and automating your processes from purchasing to delivery and logistics, you can optimise your systems. Companies that seamlessly integrate digitalisation, automation, and sustainability into their operations tend to be the most successful.
Global race around AI
EU laws drive innovation. The European Parliament has given the green light to the world’s first comprehensive AI legislation – the AI Act. A landmark law aiming to foster responsible and ethical AI development while addressing the risks associated with powerful models.
Learn more about the new law here, and hear Arba Kokalari (M), Swedish representative in the EU parliament in a brief interview with Caroline Thorén, Head of Retail, Nexer Group.
AI can be used to enhance your brand and customer experience on the digital arena, while saving costs and time. Swedish Fintech giant Klarna collaborates with Open AI and has created AI solutions across the entire organisation, simplifying work internally and strengthening the customer experience, while saving time and money, said Klarna’s AI Manager Martin Elwin. The Klarna AI assistant has revolutionised their work with customer issues. Klarna customers now resolve their issues in less than two minutes and customer satisfaction has increased.
Other takeaways from sessions and speeches:
– Digital influencers are the new fashion magazines, setting trends and customer focus.
– Purpose-led shopping. Buy from a peer.
– Customers within B2B state that they will move to another supplier if the customer journey is better.
– Digitalization in B2B is key to customer satisfaction, business efficiency and continued growth.
– As a retailer it is crucial to ensure a smooth customer journey both before and after purchase, this goes for both B2B and B2C.