Outdoor Master, a prominent outdoor gear brand, has recently launched its $1 Eco Shopping initiative, aiming to tackle the issue of unsold inventory and promote environmental sustainability in the consumer goods industry.
According to a study by Avery Dennison, inventory mismanagement is responsible for $163 billion worth of global supply chain waste each year. The study surveyed companies from various industries and revealed that 70% of the companies had excess inventory, leading to waste and significant financial losses.
Despite selling over a million pieces of outdoor gear annually and having many products become best sellers on platforms such as Amazon, Outdoor Master still has thousands of unsold items. This unsold inventory may end up being treated as waste and damaging the environment.
After discussions with the brand community, Outdoor Master has decided to launch the $1 Eco Shopping initiative within its community. The company will accept the cost of loss for unsold items, rather than allowing them to be destroyed. Instead, the products will be offered to outdoor enthusiasts at a significantly reduced cost, providing them with the gear they need while also reducing waste.
As an outdoor gear brand committed to sustainability, Outdoor Master has been exploring ways to balance business growth and environmental protection. The company believes that in order to enjoy the outdoor to the fullest, it is crucial to protect it.
To achieve this balance, Outdoor Master has made various efforts such as developing eco-friendly snow goggles made of sustainable materials, joining environmental organizations like Protect Our Winters (POW), reducing excess packaging, and designing snow goggles straps with disappearing places graphics to raise awareness of the effects of climate change.
The company’s commitment to environmental sustainability extends beyond the $1 Eco Shopping initiative and is a vital aspect of its business model.
The $1 Eco Shopping initiative is a win-win-win scenario that other consumer brands can follow.
- The $1 Eco Shopping initiative prevents additional pollution and waste, benefiting the environment
- Customers can access high-quality skiing gear for just $1, making it affordable and accessible
- For brands like Outdoor Master, the initiative provides an effective method to manage unsold inventory while reducing environmental impact.
Outdoor Master’s $1 Eco Shopping initiative is a bold and innovative step towards promoting environmental sustainability in the consumer goods industry. As the world becomes more environmentally conscious, initiatives like this are likely to become more common.