- THE MAGAZINE
According to Jeff Pease, the Senior Project Manager for The Ashkin Group, a Boston Consulting Group survey released earlier this year reported that despite the downturn in the economy, “more shoppers deliberately sought [out] and purchased Green products in 2008 than in the year before.”
The study also revealed that even in tough economic times, consumers are willing to pay more for environmentally preferable products than they were in the past.
The survey involved more than 9,000 consumers. It also revealed:
- Thirty-four percent “systematically look for and select Green products,” up from 32 percent in 2007.
- Even if Green products cost more, 24 percent said they would select them, up from 20 percent a year earlier.
- The most popular Green or perceived Green products are organic foods and environmentally friendly household cleaning products.
According to Pease, compared to the prior year, the survey revealed:
- Sales of green product are up 12 percent versus the sales of traditional products, which were either flat or down about 5 percent.
- Inquiries about Green cleaning products are up 23 percent.
- The number of customers converting to Green cleaning products is up 10 percent.
- Green product sales are generating 3 percent to 5 percent greater gross profits compared to traditional products.