A shopper experience study done by The Integer Group and M/A/R/C Research has revealed some anticipated results. The results of the study showed that 1 in four shoppers are willing to pay more for a product if they feel they are contributing to helping the environment. As far as age goes, 18 -34 year old shoppers take more time to embrace purchases that benefit the environment than shoppers between the ages of 35-44 and 55-64. This is great news for those wanting to find a earth friendly alternative to traditional plastics like ENSO biodegradable plastics.
It’s often assumed that college aged shoppers are likely to jump on the trend of environmentally friendly products but the study shows they are not willing to pay more to do so. This is not so surprising considering most college students are on a budget, however even college students will fork out the money for products they must have. College aged shoppers do not stay in their niche for long and this is something to consider. Going green can expand your market; if your product has typically been targeted to that age group…going green can expand your market to the older consumers who are more likely to pay a premium for green. This is something to consider when marketing your made over product.
Products that give not only supply a functional need but an emotional benefit make a product feel worthwhile to consumers. It’s these types of products that grow return customers because there is an emotional attachment or an emotional need for them to purchase the product. Figuring out how to position your product, and market that emotional factor is unique to every product but once you find it, you will succeed. This can directly apply to those companies who target their products to younger, say college aged shoppers. If you are wanting to go green and be successful your product needs to give consumers especially college aged kids on a budget, that emotional benefit so that they will feel they can spend the premium.