During the recession we have seen evidence that consumers are shifting their focus from premium green products to frugality. While there is demand for green products and services, people are price conscious and cost is an impediment to wider adoption.
Frugality is an important element shaping today’s green consumer. The increasing number of people growing their own food, and reusing things they would have otherwise discarded are illustrations of the point. People are increasingly buying only what they need and making purchases that are designed to last. Essentially people are looking for good value for their money
The recession and slow recovery is changing our behavior and making consumers more value conscious. Value is not just a buzzword in business, it reflects a growing trend that an increasing number of consumers are demanding.
People want more for less. The implication is that people want green products and services that have a smaller footprint, but they do not want to pay more.
Frugality is a key characteristic of the new green consumer attitude. To capitalize on this trend marketers need to find price points commensurate with consumer cost concerns.
© 2012, Richard Matthews. All rights reserved.
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