Targeting Millennials? Try Offering Green Products
Environmentally conscious products and services are important to American consumers, a recent survey has confirmed. The Harris Poll, SCA survey found that among consumers, millennials in particular prioritize green products above other age groups.
An increase in eco friendly purchasing is up among all demographics, according to the report. Approximately 75 percent of US adult customers said they buy green products, down slightly from 78 percent who said the same last year, but still significantly higher than years past.
Not only are US consumers buying green products in larger numbers, they’re also ranking environmentally conscious products as more important and worth a higher cost. Forty percent of adults said they were open to paying more for green products if they could be sure the item in question was produced ethically and responsibly. A significantly higher percentage of millennials – 56 percent – said they would likely spend more on green products, while 34 percent of those aged 35 and older said the same.
Around 27 percent of millennials who currently invest in green products and services said they have increased the number of eco friendly products they purchase, while 18 percent of those age 35-44 responded similarly, and just 15 percent of those age 45 and up responded in kind.
It can be concluded, therefore, that companies looking to target millennials should focus on delivering green products to their audience.
“Brands and companies looking to develop strong relationships with millennial consumers should focus on how to improve sustainability practices, as well as how to communicate those accomplishments,” said Mike Kapalko, sustainability marketing manager for SCA.
Developing green products is a priority for many businesses, as sustainability efforts can draw in new customers and retain existing ones. However, product development is an expensive endeavor. If you’re interested in finding out more about small business loans, contact National Funding today.