STORES Magazine - March 2013 - (Page 36)

n PHILANTHROPY Matchmaker Good360 connects corporate donors with nonprofits by SUSAN REDA, EDITOR A rmed with skeins of data and the gift of intuition, retail buyers are pretty successful at choosing the items that will move. But that’s not always the case — buyers have been known to place one too many re-orders, get stuck with a slow-moving item or face a product that’s not quite what they expected upon arrival. That’s where Good360 comes in. “Instead of something going into a landfill or being sent out to a jobber, Good360 connects companies who have things to people who need things,” explains Carly Fiorina, the chair of Good360. Since its inception, the nonprofit has delivered more than $7 billion in product donations to some 34,000 charities, schools and libraries across the country and has been recognized by the Committee Encouraging Corporate Philanthropy. Fiorina, who joined Good360 just shy of a year ago, believes it’s an idea whose time has come. “All you have to do is look in landfills and you realize that there is a lot of stuff — toys, mattresses, books, clothes ... that is being dumped. At Good360 we’re about donating instead of dumping.” The former HP CEO led a panel discussion with retail partners The Home Depot and ANN INC. at the NRF Annual Convention & Expo in January. Her goal: to create more partnerships with retail companies, and ultimately to get more product to people in need. “Every single retailer has stuff that doesn’t sell,” Fiorina says. “Good360 matches donated product to those in need ... When we provide a new shirt for a veteran going on a job interview or a mattress for someone who has been sleeping on the floor, we’re providing things that are central to their well-being and to their sense of pride and purpose. “There are so many products that 36 STORES March 2013 “There are so many products that can have a big impact on somebody’s life. Disposable diapers, for example, are not covered by food stamps or other government programs. ... It’s so simple and the opportunity to make a difference is enormous.” – Carly Fiorina, Good360 can have a big impact on somebody’s life,” she says. “Disposable diapers, for example, are not covered by food stamps or other government programs. ... It’s so simple and the opportunity to make a difference is enormous.” FEEL GOOD ... AND THEN SOME Fiorina believes that associates care deeply about the social footprint of the companies they work for. “Employees — and younger workers in particular — care about what their employer is doing to sustain the environment and improve the quality of life for those less fortunate,” she says. “Not only do they care about it, but we believe that as a result they become more engaged in the company and the mission.” Donating product is good for brand image, too: Recent studies have found that given the choice of similar prod- ucts, most consumers are more likely to purchase products with added social benefits. “As a business person, if it’s good for the bottom line, good for my employees and good for the brand — oh, and by the way, it’s also great for the charities and for the environment — I have a tough time understanding why a company would look away,” says Fiorina. What’s more, donating product is a cost-effective solution, she says, presenting a considerable financial advantage over cash donations because it can carry an enhanced tax deduction and help companies avoid fees associated with the disposal of excess inventory. MAKING IT EASY Good360, formerly Goods In Kind International, runs like a Fortune 500 business. Consistently ranked as one WWW.STORES.ORG http://WWW.STORES.ORG

Table of Contents for the Digital Edition of STORES Magazine - March 2013

STORES Magazine - March 2013
Editor's Page
President's Page
Retail Politics
NRF News
Retail People
Business Strategy
Store Experience
Store Design
Social Technology
Business Forecasting
Divisional Update
Retail Industry Calendar / STORES Resource Center
End Cap

STORES Magazine - March 2013