Half of Americans may still be hot for green products, but consumers' willingness to pay more for green alternatives has decreased since last year, according to a new survey.
Going Green, an annual report examining how much consumers actually care about green issues, indicates that Echo Boomers (ages 16-29) and GenXers (ages 30-43) are more concerned about the environment compared to a year ago. But while interest in green issues continues to grow, consumers' willingness to pay more for green alternatives has decreased, according to the report.
"There is a looming challenge for marketers of green products and services," says Dr. David Bersoff, the author of the report. "Consumers will be pushing for stricter governmental and institutional green policies, and they'll be choosing brands to a greater extent based on green considerations. But at the same time, they are becoming less willing to help marketers pay for the greening of their business and products."
It seems the marketing industry has also picked up on consumers' hesitation in spending more green for green products. Duke University just released a study of top CMOs which shows marketers will be shifting away from their cause-related messages over the next year reflecting 77% of respondents' "pessimistic view" of the economy.
via | Sustainable Life Media
