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Green spending to double in 2008

Industry News | March 1, 2008 | By:

Consumers answering the 2007 ImagePower Green Brands Survey plan to double spending on green products and services in 2008, an estimated $500 billion in sales. “This wave of research very clearly indicates an uptick in purchase intent…particularly those that are relatively simple to implement, such as installing environmentally friendly lighting and upgrading to energy-saving appliances,” says Tom Agan, managing director of Penn, Schoen and Berland Associates, Washington, D.C., one of the firms conducting the survey.

The definition of “green” continues to evolve, from products that are environmentally produced to products that save money and care “for self and society.” Ninety percent of Americans agree that the nation faces important environmental issues, and 82 percent believe that companies should implement environmental practices. The Green Brands Survey also found that consumers perceive green purchasing as a direct and positive reflection of their social status. “Mainstream consumers can now join celebrities in supporting good causes,” says Russ Meyer, chief strategy officer of Landor Associates, San Francisco, Calif., another survey partner. Cohn & Wolfe, San Francisco, Calif., also conducted research for the Green Brands Survey, released at the Sustainable Brands ’07 conference in New Orleans, La.

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