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Sunday, April 18, 2021

Environment & Eco Friendly Products Matters More Than Ever to Consumers

In spite of the contentious threat of the coronavirus pandemic and the economic fallout due to it, the number of people who think that environmental problems have to take a backseat to health or economic issues decreased 13%, from 54% to 41% during the past 10 years, as per GFK report.

However, consumers have reported that the impediments to buying environment-friendly products are falling. For instance, just 57% of people stated that these products are too expensive, and 29% stated that green products don’t work well like other products, a decade ago they were 34%.

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Millennials show a huge excitement for green products and the companies that sell environmentally friendly products. They usually choose energy-saving cars and house tools. However, women are more likely to think that companies have to maximize the environment friendliness of their products, while Millennials tend to look at the government more than people to take actions.

In the study of this year, 24% of consumers are in the Green Gauge’s “Jaded” for example, deeply skeptical) group after they were 38% in 2010. On the other hand, “Glamour Greens” who are proud of being eco-friends increased from 20% to 30%.

Also, sustainability has been a very good business practice. In a study by the NYU in 2019, found that sustainable products were accountable for 50% of the market growth in 2013 to 2018. So, environment friendly behaviors has become a major point in a lot of organizations and companies’ marketing strategies.

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Brands that are touting green products are not new anyways, yet the pandemic and the record number of wildfires has maximized the consumer need to concern about the environmental problems. Amidst the warnings that climate change can make pandemics happen more often, consumers understood that governments and companies’ reactions to health emergencies.

“We’ve seen that you can stop pollution on a dime, you can clear up the skies overnight,” Tensie Whelan, director of the NYU Stern Center for Sustainable Business,¬†told Marketing Dive¬†earlier this year. “You can actually pour an enormous amount of money at a problem in ways that everybody’s told us we can’t.”

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