What are your thoughts on Sourcing and Procurement Services
More than just a buzzword, sustainable sourcing is an effective way to differentiate your e-Commerce website or store by elevating your brand image, increasing market share, lowering operating costs, and potentially charging a premium for products. Customers are increasingly interested in knowing where their purchases come from and how they are made. “People emotionally, politically, and personally identify with ethically sourced products.” Sustainable product and service sourcing takes into account environmental impacts as well as worker treatment. The three Ps — people, planet, and profits — refer to the triple bottom line of social, environmental, and financial benefits gained from sustainable sourcing. Here are Sustainable Sourcing for your corporate promotional products strategies for profiting from sustainable sourcing of materials and products for your ecommerce site or store.
Improve Your Brand’s Visibility
One of the most significant advantages for small businesses that choose sustainable sourcing is improved brand reputation. Customers clearly consider ethical sourcing when they shop: according to a recent Unilever study, approximately 78 percent of U.S. shoppers feel better about purchasing products that are sustainably produced. According to the study, nearly one-third of global consumers choose brands based on their social and environmental impact. One-fifth of people say they would choose brands that make their commitment to sustainability clear in their packaging and marketing on purpose. Sustainable sourcing can improve the reputation and social impact of your website or store. As an added bonus, you can improve your image among your own employees: According to a detailed report, employees are twice as likely to view their employer positively if it uses environmentally friendly products and practises.
Obtain a Market Share
Many environmentally friendly products, such as those made from organic, renewable, or recycled materials, have a devoted following. Aligning your products and services with customer populations that place a high value on sustainability is one way to increase your company’s market share. Consider partnering with a relevant philanthropic cause or charity to introduce your site or store to a new target market. Even a small business with a limited budget can offer pro bono services or volunteer time to assist a charity.
Not only can the partnership increase your company’s credibility among environmentally conscious consumers, but it can also serve as a source of referrals from the charity, which can help you increase market share and grow your business.
Cost-cutting Measures Based on Contingencies
In exchange for our strategic sourcing services, Corcentric offers a variety of fee options to clients. While flat-rate and fee-for-service billing options are available, we also provide an unrivalled contingency-based billing solution. The clients do not pay us until they realise hard-dollar savings as a result of our best-in-class sourcing initiatives. Furthermore, consultants provide hybrid billing solutions to meet the needs of almost any potential client.
Contracting and bargaining
Corcentric has successfully negotiated thousands of contracts since its inception. Furthermore, we have amassed a large archive of contract terms and price points that can be used to quickly achieve savings. Consumers can assist our clients in achieving positive negotiation outcomes that benefit both parties by leveraging market intelligence.
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