Nearly seven in ten Americans (67%) agree that "even in tough economic times, it is important to purchase products with social and environmental benefits" - and half say they are still willing to pay more for them, according to a new survey.
BBMG's latest "Conscious Consumer Report" finds that interest in green products is holding steady despite the tough economy. Three in four consumers (77%) say they "can make a positive difference by purchasing products from socially or environmentally responsible companies." On the flip side, 71% "avoid purchasing from companies whose practices they disagree with."
About half tell others to shop (55%) or drop (48%) products based on a company's social and environmental practices. (Such recommendations could cancel each other out, however. Survey respondents rated Wal-Mart the most - and least - socially responsible company in nearly equal measure - 7% and 9%, respectively).
"The economic crisis has created a moment of reflection where consumers are redefining what truly matters and evaluating purchases based on both value and values," says Raphael Bemporad, co-founder of BBMG.
As a result, consumers are taking more active steps to verify companies' green claims, the survey finds. They are most likely to turn to consumer reports (29%), certification seals or labels on products (28%), and the list of ingredients on products (27%) to determine if a product is green and does what it claims. Consumers are least likely to look to statements on product packaging (11%) and company advertising (5%), signaling deep skepticism of company-driven marketing.
In terms of green product attributes, price (66%) and quality (64%) continue to top consumers' list, followed by good for your health (55%) and "made in the U.S." (49%). But green benefits have increased in importance since last year - including energy efficiency (47% very important in 2008, 41% in 2007), locally grown or made nearby (32% in 2008, 26% in 2007), all natural (31% in 2008, 24% in 2007), made from recycled materials (29% in 2008, 22% in 2007) and USDA organic (22% in 2008, 17% in 2007).
"This is a moment for leadership," Bemporad says. "By delivering on the multiple dimensions of value - price, performance and purpose - brands will be able to close the green trust gap, weather the economic storm and thrive in the sustainable economy of the future."
Find more information on the "Conscious Consumer Report: Redefining Value in a New Economy" on BBMG's website.
Via SLM
