I often hear “everyone wants to go green, but no one wants to pay more for it.” Personally, I don’t mind paying a bit more for a better product. Don’t get me wrong here – I don’t want to pay $3 to buy a product that would normally cost $1, but I would be willing to pay $1.25-$1.50 without thinking twice.<\/p>\n
<\/p>\n
Interestingly, it seems most consumers (even ones without disposable income) share my thoughts; a recent study by Miller Zell, a retail and strategy design firm, finds that lower income shoppers are driving the sustainable product marketplace, not the higher income, lifestyle consumers many think of as supporting sustainability.<\/p>\n
Overall, the survey found 50% of consumers are willing to pay a premium for a product they consider to be green. The largest benefit comes to grocery stores, where 79% of shoppers will pay the premium and to mass retailers, where the number is 70%.<\/p>\n
The research also suggests that retailers and manufacturers may be missing a great brand building opportunity with a younger, lower income consumer.<\/p>\n
In addition, consumers seem to impulse buy green items, about 62 percent of shoppers say that the availability of green product options can impact unplanned purchases, according to a new report from Miller Zell.<\/p>\n
Nearly three-quarters of women respond to green products as impulse buys, income and age were less determining factors, according to the report.<\/p>\n
Perhaps the saying should be “Everyone wants to go green, and we are willing to pay for it – as long as it is reasonable!”<\/p>\n
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