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48%

of business leaders say their business has not set a net zero strategy

Business leaders on why your environmental, social and governance (ESG) strategy is now business critical

36%

49%

maintain their business has not calculated their carbon emissions for the last year

ESG is front and centre for investors, senior management and the board. It needs to be a strategic priority for businesses, with an increased demand from stakeholders and prospective investors wanting to see an ESG strategy in place before they decide to do business with you. ESG is no longer just a nice thing to do, or the right thing to do, but a must do to succeed. As part of the Business Outlook Tracker, we asked 601 UK business leaders what ESG means to them. While ESG awareness is high among the mid-market, the research highlights a knowledge gap among senior management. Keep scrolling to see what they had to say.

haven't reported their carbon emissions externally

Businesses are yet to nurture their ESG strategies

Overall value

Ability to obtain funding

92%

Attractiveness to investors

So your organisation can foster sustainable growth

90%

Contribution of ESG factors to a company's:

Social impact

acknowledge talent acquisition, retention and customer buying decisions are impacted by an organisation's:

Environmental performance

Diversity and inclusion

3/4

Causing brand, talent and customer reputation to be at risk

77%

of leaders agree an unethical supply chain can risk brand reputation

37%

41%

Understanding of expectations and requirements

As business leaders, you need to lead the way on ESG actions

Senior management support

34%

of business leaders believe businesses offer recruitment and progression programmes for ethnic diversity

Resource

50%

Key barriers to ESG effectiveness, according to business leaders

Only

of people say they actively look for products/ services that help them live a healthy lifestyle 

49%

GfK Consumer Life Study, 2020

points vs 2019

of global consumers say they now cook  for fun at least once a week 

But shopping behaviour and consumer demands have changed radically

+10%

69%

With consumers adjusting to the ‘new normal’, the impact of Covid-19  is apparent in their purchasing decisions

Super-performers in specific countries

01

Year-on-year growth for week 48 2020 vs week 48 2019

Food preparation

Great Britain

Germany

GfK Weekly Market Intelligence: Sales Tracking, weekly data, 2020

+24%

+79%

+217%

Pointing devices (mice)

Monitors

+133%

03

02

Turkey

+49%

Three winning product groups around the globe

+64%

Media tablets

Who won Black Friday week?

After a year like no other, manufacturers and retailers in the technology and durables market had to adapt quickly to win the Black Friday battle for the customer. With a significant share of shopping experiences around the world taking place entirely online, just how were sales impacted?  This infographic covers the key learnings and trends observed across the period, outlining what it took for brands to win and where the opportunities might lie ahead.

41%

Black Friday 2020

Black Friday 2019

Sales share with a discount of at least 15%

33%

Product group most  impacted by price cuts

76%

Sales volume sold with a price cut of  >15% compared to last Black Friday

GfK Market Intelligence: Sales Tracking, weekly data, 2020

However audio home systems saw the largest share of price promotion sales:

Premiumization was also a winning strategy, with many brands opting to keep prices for in-demand products high

Audio home systems

+5%

Value 2019

3 Black Friday promotion weeks together

14.2%

Sales growth

GfK Market Intelligence: Sales Tracking, weekly data, 2020

6.8%

5.7%

11.1%

-5.8%

Sales momentum starts even earlier than ever -  already in week 46

18.7%

14.6%

16.4%

Value 2020

And retailers and manufacturers encouraged shopping  even earlier by bringing promotions forward

Week-on-week growth for week 48 vs. week 47

With certain countries taking the lead

1.6bn

GfK Market Intelligence: Sales Tracking, weekly data, 2020

+77%

+21%

Turnover generated

Biggest Black Friday market

-6%

5.6bn

Year-on-year growth for week 48 2020 vs week 48 2019

+209%

Brazil

Sales value in week 48 vs. last 52 week average

+128%

Strongest week-on-week growth

Highest year-on-year growth

Sales across all technical consumer goods categories in key Black Friday markets*

Sales in Black Friday week were slightly weaker than last year’s figures, but still strong compared to an average week or previous week

57%

56%

Information technology

63%

32%

Consumer electronics

Telecom

For the first time ever, the lion’s share of revenue generated came from online shopping, triggered by partial lockdowns

48%

44%

Online value share in %

40%

Black Friday week 2019

46%

53%

37%

Black Friday week 2020

This trend was most pronounced in the Czech Republic driven by the lockdown imposed on non-food retailers 

Online value share Black Friday week 2020

Major domestic appliances

67%

88%

Technical consumer goods

Small domestic appliances

For more information on Black Friday, visit our Peak Season Insights Hub

*Key markets are defined as Germany, Italy, Spain, UK, Czech Republic, Hungary, Russia, Turkey and Brazil. All sales data is shown in Euros.

For all inquiries regarding this infographic please contact Norbert Herzog, norbert.herzog@gfk.com

35%

GfK FutureBuy, 2020

of respondents have stopped buying services/ products  because of their impact on the environment or society

Ensure a seamless omnichannel experience 

GfK Sustainability Concern and Action Report, 2020

GfK Consumer Pulse Report, 2020

of consumers agree that “the way companies conduct themselves during this crisis will impact whether I do business with them in the future.”

79%

Maintain your premiums

Make sure the ‘at-home’ trend is provided for in your strategy

GfK Consumer Life Study, 2020

GfK Consumer Life, 2020

of shoppers prefer to own fewer but higher quality items (clothes, technology, products etc) 

55%

of people will cook at home more than  before lockdown

How manufacturers and retailers can prepare for the future 

65%

51%

The ‘new normal’ shopper is here to stay -  so how can manufacturers and retailers adapt?

Have a purpose

of consumers are planning to use click and collect services in the coming year

04

Karen Higgins, Head of Sustainability at Grant Thornton UK LLP

Emissions reduction targets must be grounded in climate science through the SBTi (Science Based Targets Initiative). It makes good business sense and there is no better time to start than now.”

Dave Munton, Head of UK Markets and Clients, Grant Thornton UK LLP

Activity needs to be led from the top. Business leaders need to develop a deeper understanding of the practical actions that need to be taken to embed ESG into their overall business strategy.”

Businesses are yet to nurture their ESG strategies

maintain their business has not calculated their carbon emissions for the last year

haven't reported their carbon emissions externally

of business leaders say their business has not set a net zero strategy

As part of the Business Outlook Tracker, we asked 601 UK business leaders what ESG means to them. While ESG awareness is high amongst the mid-market, the research highlights a knowledge gap among senior management. Keep scrolling to see what they had to say.

Karen Higgins, Head of Sustainability at Grant Thornton UK LLP

Dave Munton, Head of UK markets and clients, Grant Thornton UK LLP

Understanding of expectations and requirements

Start planning your winning ESG strategy today

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