Good For Green Business: Legit Survey Says Green is Not a Fad
The 2007 ImagePower Green Brands 2.5 Survey debuted this morning at Sustainable Life Media's Sustainable Brands '07 Conference in New Orleans. According to the report, "consumers say they expect to double their spending on green products and services in the next year, totaling a staggering $500 billion annually, or $43 billion per month."The 2007 ImagePower Green Brands Survey was conducted by three market research and consulting parties: WPP's Landor Associates, Penn, Schoen & Berland (PSB) Associates, and Cohn & Wolfe (C&W;). The survey represents a sample of US populations.
Findings indicate a shift in the U.S.'s collective consciousness. According to Sustainable Life Media, a new business to business online community, e-newsletter and event company, dedicated to educating large businesses and corporations on the profitability of environmental best practices, "Consumers had previously indicated a close association of the color green with 'environmentally-friendly' products. As products and awareness have increased in sophistication, perceptions have steadily shifted to equating green to saving money and caring for self and society. Consumers now perceive green as a direct and positive reflection of their social status, in addition to recognizing its broader value to society and the world."
The survey also found that 40% of the U.S. population feels that the leading issue driving concern around the environment is global warming, while 20% blame themselves for the state of the environment. The research also indicated that despite bipartisan sentiments on politics and religion, 90% of Americans agree that there are important green issues and problems, and 82% believe it is important for companies to implement environmentally friendly practices.
"This wave of research very clearly indicates an uptick in purchase intent for most consumers when it comes to green products and services, particularly those that are relatively simple to implement such as installing environmentally friendly lighting and upgrading to energy-saving appliances," said Tom Agan, managing director of Penn, Schoen and Berland Associates.
For more information on the survey read Sustainable Life Media's exclusive interview with Annie Longsworth of Cohn & Wolfe.