Implementing environmentally friendly practices as a business has a wide array of advantages.
One is being able to show potential customers that you care about the environment. This allows you to appeal to an entirely new niche of customers. A growing percent of people only support businesses that reduce or eliminate their impact on the environment a market segment now labeled as ‘New Consumers’ by brand consulting firm, BBMG. Their research cites 70 million shoppers branded “New Consumers”, make up 30 percent of the U.S. population.
Another benefit is green businesses seem to attract the top talent. Towers Perrin’s 2007 Global Workforce Study shows that a firm’s reputation for social responsibility (including environmental work) is one of the top ten drivers of employee engagement worldwide. Employees want to work with companies who are ‘doing the right thing’ and being proactive with corporate environmental and social programs.
Contact us today for a consultation on implementing environmentally friendly practices in your business. Our consulting firm specializes in helping small to medium sized businesses to develop sustainability plans and educate employees on sustainability.
A new 2011 study was just published that listed the top ‘green’ 2011 consumer brands. Here were the top 10 identified:
1. Seventh Generation
2. Whole Foods
3. Tom’s of Maine
4. Burt’s Bees
5. Trader Joe’s
6. The Walt Disney Company
7. S.C. Johnson
10. Starbucks, Microsoft (tied)
For a good written summary of the report, go to Environmental Leaders article. To view the full study, see their presentation on SlideShare. And if you want to compare from 2010 Top Green Brands, here is the listing.
Greenbiz had a great article after Earth Day 2011 about the green consumer market called the Polling of America 2011. Joel Makower, editor of GreenBiz, identifies some key consumer reports and studies about American’s attitude toward green products and services. Most of the reports do recognize that consumers are more aware of environmental consumerism than they have in the past. A poll by NBC universal found that 68% of consumers believe its worth paying more for a green product or service if it comes from a brand they trust. They also found that found that 62 percent of respondents are making a conscious effort to buy products made by environmentally responsible companies. Another study by BBMG called, Unleashed: How New Consumers Will Revolutionize Brands and Scale Sustainability said that even with the recession over 25% were willing to pay to pay more for sustainable alternatives. Consumers ‘voting’ with their dollars is a key aspect for new innovation and new green products and services from companies.