Are consumers willing to pay more for green?

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According to a report by Nielsen Global Corporate Social Responsibility Survey, it appears they are.

The survey polled 30,000 consumers across 60 countries, uncovering the following results:

  • 52% of consumers review the product package to determine if it’s sustainable.
  • 55% will pay more for products or services that are looking to have positive environmental and social impact.
  • 52% purchased at least one eco-friendly product within the last six months.

The survey also showed that consumers in Latin America, the Asia-Pacific region, the Middle East and Africa showed a higher preference for green products than consumers in Europe and North America.

If consumers are willing to pay more money on green products, companies should have no problem in producing them. In return, they can also experience more demand for their products and services as well as business referrals.

Step by step approach

Small businesses can adopt green practices one step at a time. From implementing an eco-friendly supply chain to recycling trash or making compost. There are plenty of initiatives that give you bragging rights and show that you care about customers and their environment.

Small changes can lead to significant savings and green initiatives are an opportunity to build trust and build customer loyalty.

Here are a few ideas on how to get started:

  • Use less paper adopt digital applications and documents.
  • Give a company-branded portable coffee mug to your employees and encourage them to take it to work.
  • Switch off computers instead of leaving them on standby when not in use
  • Promote your green marketing initiatives to improve your brand’s reputation and attract like-minded consumers.

In the long run, as consumers seek more sustainable products, they will be supportive and loyal to companies that are environmentally conscious.

Authenticity

Making false or inaccurate claims about being environmentally friendly will harm your brand’s credibility and reputation and it could be regarded as deceiving and misleading conduct.

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