March 6, 2009

Making The Case For Environmentally And Socially Responsible Consumer Products

A Small But Lucrative Group Of Consumers Will Pay More For Green Or Socially Responsible Products

by Sally M. Cohen

with J.P. Gownder, Abe Garon, Dan Wilkos

Executive Summary (This is a document excerpt)

Most consumers care enough about the environment and the community that they consider these concerns when making purchase decisions — including taking into account whether a company treats its employees fairly or is deemed environmentally friendly by an organization like Greenpeace. A small but committed portion of consumers will even pay more for products that are produced with green or socially responsible practices. Those consumers who are willing to pay extra for products in line with their ethical concerns earn more money and are more brand-loyal than average. Smart product strategists in every B2C vertical will incorporate environmental and social responsibility into their products to help drive differentiation, incremental revenues, and brand loyalty.

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