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 of 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. Scott has started, grown and sold two mission-driven businesses, failed miserably at a third, and is currently in his fourth. Scott's current company has three divisions: a sustainability blog network that includes the world's biggest clean energy website and reached over 5 million readers in December 2013 alone; Pono Home, a turnkey and franchiseable green home consulting service that won entrance into the clean tech incubator known as Energy Excelerator; and Cost of Solar, a solar lead generation service to connect interested homeowners and solar contractors. In his spare time, Scott surfs, plays ultimate frisbee and enjoys a good, long bike ride. Find Scott on Google Plus