|
Consumer Spending on Green to Double Next Year
Consumers expect to double their spending on green products and services in the next year, totaling an estimated $500 billion annually or $43 billion per month, according to findings from a survey released early this fall at the Sustainable Green Brands conference in New Orleans.
The survey was conducted by Landor Associates; Penn, Schoen & Berland (PSB) Associates; and Cohn & Wolfe.
“The wave of research very clearly indicates an uptick in purchase intent for most consumers when it comes to green products and services, particularly those that are relatively simple to implement such as installing environmentally friendly lighting and upgrading energy-saving appliances,” said Tom Agan, managing director of PSB.
The research also found that 90% of Americans agree that there are important green issues and problems, and 82% believe it is important for companies to implement environmentally friendly practices.
The survey also showed that consumer perceptions of green continue to change and have a direct bearing on their buying decisions.
In early research, consumers closely associated the color green with environmentally friendly products. Last year, as products and consumer awareness were becoming more sophisticated, perceptions steadily shifted to equating green with saving money and caring for oneself and society. The most recent survey found that consumers perceive green as a direct and positive reflection of their social status, in addition to recognizing its broader value to society and the world.
“Mainstream consumers can now join celebrities in supporting good causes,” said Russ Meyer, chief strategy officer of Landor Associates. “As issues continue to arise around the world, so do positive perceptions of the people who support those issues. With every cause, there is opportunity to gain support through a green-savvy consumer population.”
The study defined five “green attitudes,” which range from “Dull Green” respondents on one end of the spectrum who make a minimal effort to support environmental change to “Bright Greens” who are doing everything they can to make a long-term impact on the environment.
One in five Dull Greens indicated they were satisfied with the current state of the environment, while Bright Greens were skeptical about the outlook for the environment and one in three were angry about the situation.
For information about green resources available from NAHB, e-mail Calli Schmidt, or call her at 800-368-5242 x8132.
|
