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Being Green Pays Off

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Environmental issues have moved from the fringe to the mainstream, says Carla Ferraro, a Research Fellow at the Centre for Retail Studies.

That’s placing pressure on businesses to adopt green attitudes and approaches. Consumers look to retailers because that’s who they have the relationship with — they expect the retailer to influence the supply chain accordingly. That’s why some retailers are now choosing to buy only from suppliers with strong green credentials.

Now, if you’re one of those people who believes the green movement is nothing for than a passing fad, here are some figures from the Australian Centre for Retail Studies to consider:

Australia’s “Lifestyles of Health & Sustainability” industry was worth $19 billion in 2009 and is set to reach $31 billion by 2012

Green consumers are older, better educated, with a higher income and a desire to protect the planet for future generations

  • 46 percent of Australians regularly buy “green”

  • 66 percent of regular green shoppers are willing to boycott non-green companies

  • 44 percent of Australians are willing to pay a premium of up to 10 percent to buy green

  • 92 percent of Gen Y want to work for a company with strong green credentials

Of course, even if you are green, you still need to convince your customers. I discuss how with Carla Ferraro in today’s BTalk podcast.

First published on CBS News

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