Are Consumers Still Looking to Buy Green in This Troubled Economy
Mar 18, 2009
As the economy continues to be in recession mode, consumers have been tightening their belts (and purse strings) –forgoing vacations, automobile and big screen TV purchases–and generally, closely watching and monitoring their dollars. This has been the first time that the US savings rate has increased in decades, as people want to conserve their cash.
However, a recent study commissioned by Green Seal and EnviroMedia Social Marketing and conducted by Opinion Research Corporation reveals that half of the 1,000 people surveyed say they are buying just as many green products now as before the economic downturn, while 19 percent say they are buying more green products. Fourteen percent say they are buying fewer environmentally green products.
While these numbers may surprise many, the fact is, buying green is here to stay. As consumers become more educated and continue to understand, and appreciate, the value of recycling and reducing landfill waste, the trend will only continue. In a matter of five to ten years, being green will be the cost of entry into the marketplace–and those that do not understand that, will fail–and hopefully without any type of government bailout.
It will no longer be a matter of whether a company is green or not, it will soon be to what degree is the company green.