The Advantages of Fairtrade for Retailers
Fair trade is a movement that aims to treat all producers fairly. The efforts are concentrated on third world countries. Fair trade organisations such as Fairtrade, a U.K.
-registered charity, aim to spread awareness about how food and other produce is manufactured and hope to establish long-lasting, beneficial trade agreements between retailers and producers. According to HandmadeExpressions.net, everyone in the "value chain" of fair trade benefits from the movement.
Good Public Image
As consumers gain access to more information through the media and the Internet they want to make more informed decisions. Free Poll found that 96% of consumers are prepared to spend extra on consumables if they perceive them to be more ethically produced. Being seen to be ethically minded will encourage consumers to choose your business over competitors who are not offering the same ethical consumables.
By selling fair trade products, retailers open their stores to wider markets. The eco-dollar, as it is commonly known, is the consumer power of a group that will only buy from ethically and ecologically minded retailers. Many people choose to exclusively purchase fair trade products or will only shop in stores that offer an ethically produced option. Without selling fair trade products, the retailer excludes a significant number of consumers from shopping at the store.
Ensures Future Production and Market
By supporting fair trade initiates and selling the produce, retailers are guaranteeing their future supply. Without supporting the producers and growers in the long term, product prices may fluctuate or some products may not be available in the future. Developing good working relationships puts the retailer in a more secure situation to move into the future.