The most recent figures from the Mobium Group suggest that despite the Global Financial Crisis many consumers continue to choose more sustainable and environmentally friendly products and services over those that aren’t considered in this category.  However consumer preparedness to pay a premium for such products has reduced in recent times.

“Only one-third (36%) of people are now willing to pay 25% or more for products and services which are made in an environmentally-friendly manner. For most people in the current financially challenging times, the willingness to a pay a premium for ‘green’ continues to fall,”¹ according to Nick Bez, Mobium groups Research Director.

Mr Benz also said that “companies have an opportunity to fundamentally re-shape markets and attract the growing number of consumers looking for environmentally friendly alternatives, at an affordable price point, within mainstream shopping channels”².

CPRS, what CPRS?
Whilst there is still considerable consumer demand for green products and services the Mobium study found that many consumers are less than informed when it comes to government policy on climate change and the environment. In fact 35 percent of respondents claimed they had never heard of the Government’s Carbon Pollution Reduction Scheme³.

More findings from the Mobium Green Tracker survey⁴:

• Products best placed for growth are those providing direct cost-savings including solar hot water and energy efficient appliances
• Consumers are more willing to spend on green products and services that demonstrate benefits for themselves as well as the wider community
• Almost 80 percent (77.9%) of people say that price is a ‘roadblock’ to purchasing environmentally-friendly goods and services
• Two thirds (65%) of respondents could not name the 5 percent, 2020 reduction target the CPRS is aimed at achieving

References