Among mainstream consumers there’s now a real sense that environmental protection is urgent. They want to live a greener life, and their spending patterns reflect their desire to see the brands they use go green as well. In the US alone, consumer spending on products and services perceived to be environmentally friendly will double to US$500 billion this year, according to the 2007 Green Brands Survey conducted by Landor Associates, Penn, Schoen & Berland Associates, and Cohn & Wolfe.
As consumers rally to the climate change challenge, companies have rapidly learned that being green – and being seen to be green – makes good business sense.
Paying More For Green Alternatives
Consumers not only want to buy green, they’re prepared to pay more for it. Nearly 70 percent of some 2,000 people surveyed in the US, UK, Germany, the Netherlands, Australia and Japan, said they would pay a premium for green energy alternatives, such as wind and solar power. According to last year’s poll by IBM Global Energy & Utilities Industry, Australians were the most willing to pay more for renewable energy, but Americans said they would pay the highest premium – 20 percent or more.
It is not just altruism which fuels the demand. Consumers are also motivated by rising energy prices and tax policies that punish polluters.
Above excerpts taken from: Climate Change: Green Branding – Cashing in on the Eco-Market
The World Intellectual Property Organization (WIPO) is the United Nations agency dedicated to the use of intellectual property (patents, copyright, trademarks, designs, etc.) as a means of stimulating innovation and creativity.
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