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VusionGroup and HowGood announce a pioneering solution designed to improve retail decarbonization. This innovative collaboration addresses one of the most pressing challenges in the retail industry: reducing scope 3 emissions.
September 17, 2024 – VusionGroup (VU – FR0010282822) VusionGroup and HowGood have partnered to introduce an innovative solution for retail decarbonization, focusing on reducing scope 3 emissions. This solution leverages VusionGroup’s Memory technology and HowGood’s sustainability database to optimize assortments under new environmental constraints. The companies will co-sponsor a session “Positive Retail, Positive Assortment” to talk about this innovative approach on September 23rd, during Climate Week, the largest annual climate event of its kind in New York City.
Reducing scope 3 is one of the most challenging tasks in decarbonizing retail. These emissions encompass the entire value chain, from raw materials to the consumer’s final use of a product. According to the National Retail Federation, indirect scope 3 emissions account for 90%, and frequently up to 98% of retailer’s greenhouse gas emissions. Because the emissions are indirect, they are also the most difficult to track. The challenge of implementing an effective and easy to understand method to tackle this issue often leads to prolonged deliberation rather than action.
Within scope 3, the importance of assortment is paramount. VusionGroup and HowGood partnership offers a solution with its research-backed methodology, streamlining the process and enabling retailers to act decisively.
On one hand, VusionGroup’s Memory solution empowers retailers to build the optimal assortment at a SKU and store format level. Memory leverages both transactional and consumer data, optimizing key performance indicators (KPIs) that matter most to retailers. They can customize their constraints: whether strategic (brands vs. private labels, customer segments), operational (% of movements, size of the box), or tactical (weight of a given supplier). The solution allows them to build the perfect assortment: maximizing revenues under strong requirements while covering all consumer needs.
On the other hand, HowGood brings new dimensions to the module with granular sustainability data, drawing from its database of more than 90,000 agricultural emission factors. Environmental regulations and corporate decarbonization targets are then easier to achieve: the retailer simulates its perfect assortment with real-time insight into sustainable attributes, ratings and carbon footprint, bringing sustainability ROI directly into corporate decision-making.
The combined VusionGroup, Memory and HowGood collaboration not only initiates assortment work but also enables real-time, medium-term projections and studies of consumption shift effects. This ensures retailers have complete autonomy in understanding the impacts on revenue and margin, store by store. Moreover, VusionGroup’s Electronic Shelf Labels, integrated with their Cloud platform in over 20,000 stores, have the potential to change consumer shopping habits. This initiative could also display product carbon footprint information, empowering shoppers to impact scope 3 emissions directly at the shelf.
VusionGroup and HowGood will join Climate Week, one of the most important climate events where representatives from all over the world gather to drive the transition, speed up progress, and promote change in New York. Both companies on Monday, September 23rd, will share a presentation from 1:30 to 2:00 pm at Regen House. The session, titled “Positive Retail, Positive Assortment,” will explore how building the optimal assortment can help retailers lower their scope 3 emissions while controlling their revenue and margins.
“Reducing Scope 3 emissions is one of the most important challenges in retail decarbonization. VusionGroup’s Memory solution empowers retailers to build the optimal assortment by harnessing all transactional and shopper data, making informed decisions with the support of our AI-based recommendations. We are delighted to strengthen our partnership with HowGood, offering a streamlined, research-based methodology that enables retailers to act decisively and effectively tackle this critical issue,” says Pascale Dubreuil, Chief Sustainability Officer of VusionGroup.
“Accurate data is essential for companies and the planet. Our partnership with VusionGroup leverages HowGood’s robust database and the Carbon Trust’s verified methodology to deliver real-time, audit-ready product carbon footprints. This allows retailers to innovate with confidence and accelerate their decarbonization efforts,” adds Ethan Soloviev, Chief Innovation Officer of HowGood.
For more information, please visit: https://www.regen.house/climate-week-nyc. To attend our session, please register at: https://lu.ma/418ww40x
About HowGood
HowGood is an independent research company and SaaS data platform with the world’s largest database on food product sustainability. With more than 90,000 on-farm emissions factors for food ingredients, HowGood helps leading brands, retailers, suppliers and restaurants to measure, manage, and communicate their environmental and social impact.
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About VusionGroup
VusionGroup (ex- SES-imagotag) is the global leader in the digitalization solutions for commerce, serving over 350 large retailer groups around the world in Europe, Asia and North America. The Group develops technologies that create a positive impact on society by enabling sustainable and human-centered commerce.
By leveraging our IoT & Data technologies, we empower retailers to re-imagine their physical stores into efficient, intelligent, connected, and data-driven assets. We unlock higher economic performance, facilitate seamless collaboration across the value chain, enhance the shopping experience, create better jobs, cultivate healthier communities, and significantly reduce waste and carbon emissions.
VusionGroup consist of six families of solutions, harnessing the full potential of IoT, Cloud, Data, and artificial intelligence (AI) technologies, at the service of the modernization of commerce: SESimagotag (ESL & Digital Shelf Systems), VusionCloud, Captana (computer vision and artificial intelligence platform), Memory (data analytics), Engage (retail media and in-store advertising), and PDidigital (logistics and industrial solutions).
VusionGroup supports the United Nations’ Global Compact initiative and has received in 2023 the Platinum Sustainability Rating from EcoVadis, the world’s reference of business sustainability ratings.
VusionGroup is listed in compartment A of Euronext™ Paris and member of the SBF120 Index. Ticker: VU – ISIN code: FR0010282822 – Reuters: VU.PA –Bloomberg: VU.FP
www.vusion.com
Investor Relations: Olivier Gernandt – [email protected]
