Americans Willing To Pay More For Green Products By Age, November 2013 [CHART]
About half of Americans agree (top-2 box score on a 5-point scale) that they care about the efforts brands are making to help the environment, per newly-released survey results from Ipsos Open Thinking Exchange (OTX). Getting Americans to part with their money on this basis is a different effort, though, and one that brands might struggle with: only about one-third of respondents agreed that they would pay more for “green” or environmentally-friendly products. That echoes similar findings in the past.
For example, last year, a Nielsen study found that consumers in North America were almost twice as likely to say they prefer to buy products from socially-conscious companies than to say they would pay extra for their products and services (64% vs. 35%). And while a similar study from Nielsen this year found that a growing share of consumers around the world (50% in total) said they would spend more money on goods and services from companies that give back to society, fewer – 43% – reported actually spending more on such goods and services. While it’s true that those studies didn’t focus specifically on brands’ environmental efforts, they support a general feeling that consumers don’t always put their money where their mouths (hearts?) are. Read the rest at MarketingCharts.