Consumer appetite still growing for carbon friendly products and services
Consumer research released by international business consulting firm, L.E.K. Consulting, reveals there is an emerging and burgeoning consumer appetite for carbon friendly products and services in Australia, with a small but growing proportion willing to incur additional costs to reduce their carbon footprint.
Dr Simon Barrett, managing partner of L.E.K. Consulting in Australia and New Zealand, said
“Australians have come a long way in their awareness of carbon emissions and they are beginning to take responsibility for their own carbon footprint.”
Dr Barrett said it was a promising sign that 85% of consumers surveyed had already begun to make simple changes to their lifestyle to reduce carbon emissions.
“This is promising news for Australian businesses as it shows there is a growing preference for low carbon emitting alternatives, especially those that are simple or present minimal extra costs.
“Of even greater interest to marketers and business owners is the emergence of a small but growing group of environmentally committed consumers. In fact, 22% of respondents confirmed they would change their buying behaviour in a significant way by sacrificing convenience or paying a premium for products or services with a smaller carbon footprint.
“With a further 63% willing to switch to more carbon-friendly products or services that are equal in quality and price, that means a total of 85% would change their purchasing behaviour, if armed with reliable information,” said Dr Barrett.
These findings hold implications and opportunities for marketers across a broad range of industries including retail, manufacturing, business services, energy, transport, electronics and others.