May 6th, 2011
The New York Times ran an article recently declaring that demand for green products has been greatly diminished during the recession. Their argument is that consumers are no longer willing to pay a premium for green products. Harvard Business Review wrote a great assessment of the NY Times article. HBR contends that consumers were never willing to pay more for green products so nothing has really changed. In fact, the prevailing trend is that conscious consumers are demanding green products of equal or greater quality. HBR poses this point:
"But there is a serious rise in the number of so-called "conflicted" or "conscious" consumers, which has been building for years. These buyers, which are quickly becoming the majority of consumers, not a niche segment, want it all. They demand more sustainable products at the same or lower price."
I agree with HBR.
I'm as discerning as it gets. Admittedly, even somewhat 'snobbish'. Whether it's food or footwear, I'm picky and precise in my selections. (I'm not saying I have the best taste but I most definitely have exacting personal taste.) So when it comes to paying more, I have no problem with that as long as the quality of the product suits my snobbish tendencies. I demand excellence. I'm certainly not alone in feeling this way. I think I fall into the "conscious" consumer group that HBR refers to that will increasingly drive the consumer market to produce high quality, green products.
My sense is that the great majority of ReCORK partners likely feel the same way. You are a group of early-adopters and innovators in your business and communities - likely one of the reasons you have partnered with ReCORK. I am very curious to hear your response to the articles referenced above. Are you willing to pay to go green?
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