Wall Street Journal: Small Firms See Big Potential In Going Green
by Lloyd Alter, Toronto on 06.12.07
When Eco-Terr (shown above) was launched in 2001, nobody got it."People were skeptical about the durability of the products and if they would last," says founder Ofer Mizrahi. Now it is a booming business. The reason? According to the Wall Street Journal, a fundamental change was taking place. The public had started to see the value of eco-friendly construction materials, thanks in part to a widespread movement toward "green" architecture.
The Eco-Terr line has become a hit "as more people become aware and learn more about green products and technology," Mr. Mizrahi says.
The Journal continues: For entrepreneurs, it's never been a better time to go green. Prompted by fears of global warming and other environmental ills, consumers have started seeking out more eco-friendly products -- giving a big boost to small businesses that serve the niche.
Its good for small business: Many green consumers tend to see a small, local business as naturally more environmentally sound than a sprawling multinational. And small businesses can provide a personal touch that big ones can't -- which can be important when selling complicated eco-friendly wares.
"Small businesses connect with consumers on a personal level," says Michelle Barry, senior vice president of Hartman Group, a research institute in Seattle. ::Wall Street Journal
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To become truly useful, these products need to become as affordable as non-green products. It's a beautiful tile, but at $40 a square foot it's a bit pricey.
Good point, Neam, about green products becoming as affordable as non-green. You could argue, however, (think Wal-Mart) that even though a product is cheap for you, someone, somewhere IS paying for your cheap find. In general, I think the LOHAS market understands this and is willing to pay a bit more. That said, until sustainability is affordable for even lower income brackets, we probably haven't reached a tipping point. And maybe this is where Wal-Mart comes in - they are working hard to become the embodiment of "affordable sustainability" by greening their supply chains and operations.
Another thought is that sustainable products that thrive will be the ones that are simply better products. Take the Tesla for example, if it were a bit less expensive, who wouldn't want a fast, hot, little sports car, never mind the fact that it's electric? People should want to buy green for the same reason we switched form VHS to DVD - it's just a better product.