New Study: Millennials Willing to Pay Significantly More for Green Products
Jan 5, 2011
There is still a lot of talk over whether or not people are willing to pay more for green products. Well, I think a new study released today has just answered this question, and the results might surprise you.
Well, a recent survey that has just been released today from Capstrat-Public Policy Polling shows 19 percent of the youngest adults say they’re willing to pay “significantly more” for green goods. That’s more than twice as many as any other age group.
Only 4 percent of those aged 30 to 45 are willing to spend “significantly more” for green products, 7 percent of those aged 46 to 65 are willing to pay “significantly more”, and 5 percent of those 65 and over are willing to pay“significantly more” for environmental friendly goods – though the term “significantly more” has not been clearly defined.
To be a bit more clear, the survey has found that a majority across all age groups are willing to pay a little or significantly more for green products. When the two categories are lumped together, 56 percent of those surveyed are willing to pay more to go green.