Retailers today face keen competition, reduced profitability of stores due to decreasing foot traffic, rising energy costs, and a need to address corporate sustainability.
All are solid reasons for implementing energy management and sustainability measures, but these numbers are just as compelling:
- U.S. retailers spend nearly $20 billion on energy each year.
- Based on average electricity consumption, 100 stores, each with 10,000 square feet, could generate an energy bill of $1.4 million per year.
- A 10% decrease in energy costs has the same impact on the bottom line as an 8% increase in sales per square foot.
- On average, an energy management program can deliver savings of 10 to 30% within three years.
- Sustainable brands outperform the market by 120% and tend to increase sales during tough economic times.