How retailers can turn surplus inventory into social good

Does your retail business have excess inventory sitting idle in warehouses or on store shelves? Do you want to help the community in which you work and live, but have limited time and resources? Do you care about helping people and our planet, but don’t know where to start or how to measure your impact? These are all challenges facing the retail industry today, alongside growing discussion about the much-needed shift towards a more circular economy.

In Australia, we know that a staggering $2.5 billion of unsold household goods are wasted every year. This insight comes from a report by Deloitte Access Economics commissioned by Good360 Australia to quantify annual surplus inventory across the Australian retail sector. It includes all household consumer product categories (except food), with a further 1 in 5 items purchased online estimated to result in a customer return.

At the same time, 1 in 8 Australians are living below the poverty line according to the 2023 Poverty In Australia Report, with the cost-of-living crisis placing increasing pressure on people already struggling, and even more people finding it hard to get by.

Good360 provides a smart, simple solution to your surplus inventory challenges across all consumer product categories (except food). We help hundreds of retailers connect their surplus goods to thousands of charities and disadvantaged schools right across the country, helping millions of Aussies in need and redirecting thousands of tonnes of goods that may otherwise go to waste. 

There are many reasons why businesses have surplus goods. This can include logo changes meaning old branded stock can no longer be sold, end-of-range seasonal stock sitting in warehouses or in-store that become too costly to store and handle. Another common reason is minor damage to the packaging of perfectly useable goods, which you don’t want to see wasted or sent to landfill.

If these challenges are something your business is grappling with there are smart solutions available. We encourage businesses to reach out to us at Good360 Australia for a strategy session to help you manage your surplus goods, while also delivering real and demonstrable social and environmental impact.

The benefits of partnering with Good360 include:

1. Donated goods help both people and our planet and can be good for your bottom line: Good360 connects your surplus unsold goods to people in need via our network of 4,000 registered charities and disadvantaged schools Australia-wide. Since launching in 2015 we have worked with some of Australia’s leading retail brands to connect over 40 million brand-new items across ten product categories (including toiletries, clothing, toys, household furnishings and bedding) to 3.8 million people. Good360 supports a more circular economy by keeping products at their highest value while also helping people in need, creating a Circle of Good, reducing both need and waste. 

“No retailer wants to create pre-consumer waste. With heightened concern about environmental issues and tight profit margins, retailers need to sell as much inventory as possible and find environmentally sound disposal methods for the balance.”

– Paul Zahra, CEO, Australian Retailers Association

2. Attracting and retaining the best talent: Employees increasingly expect their workplaces to be responsible, sustainable and to give back to their community. One employee engagement study from Gartner found 65% reported they want to  work for organisations with a strong social and environmental conscience, which includes making statements about and taking action on the social and political issues they care about. Good360 is proud to have an engaging corporate volunteer program, for both skilled and unskilled tasks, to help teams connect and make a tangible difference. 

3. Enhanced sustainability reporting for stakeholders: Good360 supports partners with credible data and reporting that is crucial to substantiating sustainability efforts. Donating excess products, employee volunteering, donating funding, and advocating about the social and environmental benefits, provide quantifiable data for comprehensive sustainability reporting. Good360 also invites organisations adopting positive social impact as a way of doing business to join us as an Inner Circle partner. Good360 Inner Circle is our pledge and recognition program to help businesses communicate their contributions to reducing both need and waste in Australian communities. Your organisation will be in the company of other leading Australian brands in this growing movement.

“The Winning Group’s partnership with Good360 and our involvement in their Inner Circle Program, supports our company mission to create the best experiences in the world, for the world – for our customers, our people, our communities and the planet. We want to use our businesses, including Winning Appliances and Appliances Online, as a force for good and continue to assist communities and charities that need it most through Good360.”
– Alice Kuepper – Head of Sustainable Business and CSR, Winning Group

We live in a world of plenty and yet millions of people find themselves in need every day. At Good360 we know there is more than enough to go around, and much more that can be done. That’s why we partner with leading retailers to get surplus goods to where they can do the most good in the community. 

If you are a business that is focused on sustainability with measurable environmental and social benefits, then Good360 could be your perfect partner.

Find out how to create a real positive impact through Good360’s Circle of Good here or reach out directly to Good360’s Head of Sustainability, Hayley Moffiet on hayley@good360.org.au or via LinkedIn here.

Hayley Moffiet
Head of Sustainability
Good360 Australia

Hayley is a purpose driven circular economy strategist and sustainability leader who is passionate about creating cross-sector win-win partnerships and collaborating with businesses  to deliver long-term sustainable solutions that are good for both people and our planet. 

Hayley is an accomplished CPA who has dedicated over two decades to the banking sector, serving in various strategy and finance leadership positions. Her desire to make a positive impact on the world has led her to embark on a role in the for purpose sector, after first volunteering pro-bono for several years while working in corporate positions.

Hayley is now Head of Sustainability for Good360 Australia, a not-for-profit on a mission to reduce need and waste in our communities by ensuring any surplus goods and services from businesses flow to people in need.