Consumers regularly report being willing to pay a price premium for green products, but it doesn’t always translate at the point of purchase. A recent survey put out by the research group TNS looks at global trends in green consumerism. The firm surveyed over 15,000 citizens in 20+ countries, and found that at least 52% said they’d pay an additional 5% for green products. 33%, globally, said they’d pay a 10% price premium.
From country to country, the statistics varied but not much. Developing nations tended to have citizens respond most enthusiastically about price premiums, surprisingly, with Mexico, Thailand, Brazil, Russia, and Mexico among the highest respondents who’d pay a price premium more than 10%.
Michael Russon, in his book Companies on a Mission, argued that price premiums vary quite a bit from product to product (organic tomatoes may demand a higher premium than, say, no VOC paint, but perhaps a lower premium than a healthy baby bottle), but for simplicity sake, let’s just consider a generic green product, and give us your thoughts on whether you’d pay more for green, and if so, how much.
Please fill out the following form and let us know what you think. Responses may be accumulated into an article after we’ve hit a critical mass and have some good data to share, so….please, share away by sending people this link!
Scott Cooney (twitter: scottcooney) is an adjunct professor Sustainability in the MBA program at the University of Hawai'i, green business startup coach, author of Build a Green Small Business: Profitable Ways to Become an Ecopreneur (McGraw-Hill), and developer of the sustainability board game GBO Hawai'i. As a serial eco-entrepreneur who has started, grown and sold multiple green businesses, Scott believes that capitalism, true capitalism, can be a powerful force for change, but that our current version of capitalism is severely hampered by perverse subsidies and negative externalities that make unsustainable products less expensive than healthier alternatives. Scott is a vegetarian, an avid cyclist, and an organic gardener. Find Scott on Google Plus