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Customers unwilling to pay more for eco-friendly products

AUSTIN — While 46% of consumers are more inclined to purchase a product if it is eco-friendly, nearly 60% are unwilling to pay more money for that eco-friendly product or service, according to new research.

RetailMeNot.com said its latest Shoppers Trend Report, which included data from a survey jointly conducted with Ipsos Public Affairs, found that 71% of respondents surveyed felt they were aware of the positive and/or adverse environmental impact of products they purchase every day; however, more than 4-in-10 respondents (43%) reported that when they actually make purchases, they do not think about the impact that those products have on the environment. Additionally, 40% of respondents said they buy green, eco-friendly products when they are readily available and there is no big cost difference (versus non-eco-friendly equivalents), although a majority of respondents (51%) report that they buy whichever products suit their needs at the time.

When it came to whether or not retailers' support of environmental charities influenced purchased, the RetailMeNot-Ipsos survey found a mere 15% of respondents said support for such causes would lead them to be more likely to shop at a retailer, while 39% of respondents said "maybe" and 24% said "no." Additionally, 24% said that they don't care about what charities or causes a business supports, therefore the factor would not impact where they shop.

The age, ethnicity and gender of these consumers also played a role, the survey found: respondents ages 18 to 34 years were more swayed by "green" cause marketing (23% versus 11% of those ages 35 to 54 years); while non-white respondents were more likely to say they would be persuaded to buy based on retailer support for a "green" charity (24% versus 14% of white respondents). RetailMeNot-Ipsos also noted that women were more likely than men (45% versus 36%) to buy green products if it is convenient and the price point is right. Other green purchasing leaders include college graduates (55%), Northeasterners (54%), adults under 35 years old (53%) and households with children (50%), which all said they are more inclined to buy environmentally-friendly products and to pay more for them.

 

 

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