Putting the green back in greenbacks

It seems as though there are studies and surveys galore these days that are reassuring customers that green is just as popular, if not more so, despite the sinking economy. The most recent one I have come across is from Green Seal and EnviroMedia Social Marketing and is called the 2009 National Green Buying Study.

The study shows that around half of all consumers are still buying as many eco-friendly products as they did before the recession began, and an additional 19 percent are buying more products than before. Just 14 percent have cut back spending on green products. LOHAS consumers are still the most loyal and steady enviro-customers and they drive the market and its growth.

The more mainstream customers are the ones who are still not nearly as green minded in their shopping. These customers are going to need to understand the added value of products that are priced higher than those they normally purchase. If they can see a savings over time, that helps.  "On the one hand, consumers will be more resistant than ever to buy premium-priced products, especially if they are dubious to begin with about a product's green value proposition — that is, whether it really will help address the planet's environmental challenges," says Joel Makower, executive editor of GreenBiz.com and author of Strategies for the Green Economy.

Even though there is much reason to remain ultra aware of greenwashing and that many of these studies may not paint the most complete picture of our actual economic commitment to environmental issues and sustainability, there is enough evidence to show that awareness has increased. 

Our goal at Visionary Values is to deepen this awareness in consumer behavior and trace the commitment all the way to the core of the business practices of companies marketing eco-friendly products. It is clear that we all must make changes in our world views and our consumption is a key piece of this highly integrated process. It is all about accountability after all. Without customer participation in this process, companies will never know just how important it is to be transparent and committed to sustainability. In the end, with enough customer participation and oversight, they won't be able to make money if they don't approach baseline standards, because we won't buy their products!!