Green concerns centre on self and family
Concerns about climate change are widespread among global consumers, particularly those in regions such as Latin America and Southeast Asia where environmental shifts are already noticeable. However, when money enters the equation, consumer concerns and willingness to pay move from a global view to one much closer to home.
Survey results confirm that consumers are more likely to be willing to pay for “good-for-me” product features that have a perceived tangible benefit to personal health and wellness, such as organic or non-GMO. While recyclable and eco-friendly product features may boost the buyer’s feeling that they are doing something to help the environment, there is not such great willingness to pay extra for those environmentally-focused features. Understanding that not all green features are the same in the eyes of consumers is crucial for any brand or company offering products in this space. By highlighting direct, personal benefits, companies can entice shoppers to pay a value-added premium for certain green products, particularly foods.