In my discussions over the years with clients, just one concern appears to appear more than any other: Are Americans willing to pay more for environmentally friendly products?
For the portion of the public which is most affluent, most learned and most eco-conscious, the key has invariably been – yes.
These days, a survey conducted by GfK Roper Public Affairs & Media and the Yale School of Forestry & Environmental Studies, shows that an increasing number of Americans are happy to pay more for earth friendly products.
“Many American consumers, maybe even in the face of financial uncertainty, express a willingness to spend more for eco friendly products,” explained Anthony Leiserowitz, director of Yale Project on Climate Change.
ong hut giay of the respondents to the survey said they’d “definitely” or “probably” pay 15 % more for green clothes detergent (51 %) or perhaps a car (50 %). Forty percent said they will spend 15 % more on “green” computer printer paper and thirty nine % would do the same for “green” wood furniture.
What is actually most shocking in this particular analysis may be the basic fact that Americans who said their current financial situation is “fair” or “poor” were just as ready to spend 15 % far more on such environmentally friendly products as soal or maybe wood furniture as those Americans much more positive of the current financial situation.
As the green movement continues to grow, this specific survey has to allow it to be apparent to industries across the board that environmentally friendly products will will begin to increase in demand. Whether you’re a manufacturer, small family business or maybe service provider, it is important to boost the enhancement or repackaging of the treatments of yours as eco friendly.
As green becomes the norm, and most likely the cost of entry for many items within the next 3 to 5 years, those businesses that get a jump start on the competitors of theirs will have the perfect chance of capitalizing on this particular premium price differentiation. After that time frame, the eco-friendly premium probably will disappear as well as organizations are going to have to go looking for the following marketing edge.
In the meantime, turn to green living. It tends to make economic sense.