A Nielsen survey conducted this week points to exploding consumer interest in buying healthy, green products. The even better news for businesses is that 66 percent of surveyed consumers say they will pay more for products and services that come from companies who are committed to positive social and environmental impact. The business bottom-line is that adopting corporate social responsibility (CSR) is the path to growing sales without damaging price competition.
Here are three telling statistics from this survey:
How focused are consumers on the question of food authenticity? Seventy-seven percent said they review food labels all the time or sometimes. Only 6 percent said never.
What is driving this consumer interest in food authenticity? This survey found that 90 percent agreed or strongly agreed with the statement, “Food products with artificial ingredients are less healthy than food products with natural ingredients.” That says a mouthful on why healthy food sales are growing at three times the rate of conventional foods.
Today’s consumers want solutions that cost less and mean more. The appeal of home energy-efficiency, plus solar power, not only reduces environmental impacts measured by healthier local air, but it is also a proven, and growing, path for reducing electricity bills.
Cost less, mean more will be a growing tension between consumers, politicians, regulators and utilities. Requiring utilities to buy more renewable energy will reduce environmental impacts if fossil fuel burning is reduced. Requiring utilities to buy renewable energy may reduce their fuel costs as solar and wind deliver lower prices compared to fossil fuels. What the consumer is waiting to see are lower electricity bills from the utility. Not seeing this result will drive consumers in their adoption of home energy-efficiency, smart technologies, batteries and solar.
The new marketing path to the customer in the Green Economic Revolution is through using CSR to make the consumer the hero by enabling them to save money, solve a health problem and make a difference.
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Bill Roth is a cleantech business pioneer having led teams that developed the first hydrogen fueled Prius and a utility scale, non-thermal solar power plant. Using his CEO and senior officer experiences, Roth has coached hundreds of CEOs and business owners on how to develop and implement projects that win customers and cut costs while reducing environmental impacts. As a professional economist, Roth has written numerous books including his best selling The Secret Green Sauce (available on Amazon) that profiles proven sustainable best practices in pricing, marketing and operations. His most recent book, The Boomer Generation Diet (available on Amazon) profiles his humorous personal story on how he used sustainable best practices to lose 40 pounds and still enjoy Happy Hour!