Sustainability and commitment to ESG have been the hallmark of responsible businesses today. Technology and retail giants have been among the top companies that have embraced renewable sources of energy.
Commitment to renewable energy has been surging over the past few years as investments in the field increase with technology and retail sectors spearheading the drive.
Bespoke tailoring is not far behind. Bengaluru-based PN RAO, the bespoke tailoring brand, has tied up with Bengaluru-based Emmvee Photovoltaic Power for its electricity supply. Emmvee had recently
commissioned a modern solar module manufacturing facility near Bengaluru.
“With the environment facing a lot of stresses and strains due to the environmental damage wrought by humans, it’s become imperative to
mitigate the damage. There’s a need to do the best we can to not worsen the situation, and instead slowly reverse the damage. Energy is one of the reasons for much of the emissions,” said Naveen Pishe Partner, P N RAO.
He added, “We are trying to do our mite to not play a role in adding to the pollutants in the air. We are reducing our carbon footprint by opting for solar power.
We are proud of the fact that we are the first industrial unit in the Hoskote industrial belt to go completely solar, said Ketan Pishe, Partner P N RAO.
In competitive industries like retail, store owners are always looking for means to get an edge with their consumers. Be it expanding their product offerings, marketing to targeted audiences, or providing top-tier service, retailers must stay a step ahead of the trends and consumer’s expectations. Lately, businesses have found a way to take a giant leap which many haven’t yet considered.
Adding solar power to the mix in the retail store has several benefits and incentives. Smaller local operations and big-box stores alike would be able to save money, up their profitability, and also get consumer support by transitioning to alternative energy sources.
“Energy is the fourth largest in-store operating cost for US retailers (after labour, rent and marketing),” McKinsey, the analyst firm, had discovered in an analysis of retail costs.
Reduced operating costs lead to increased profitability. Not only does the bottomline get larger as major expenses like energy bills decrease, adopting solar power has other benefits too that lead to greater
profitability.
Retail behemoths like Target, Amazon, Ikea, and Walmart have been adding solar installations at their stores and distribution centres to harness the financial benefits of green energy and impress consumers
with their commitment to the environment. Their Indian counterparts are not far behind.