Nearly 25% Of Americans Willing To Pay Extra For Green Products

mike lewis

• September 22 2008
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According to a study done by Boulder, CO based Leisure Trends, an outdoor focused retail intelligence marketing firm, 23 percent of Americans are willing to pay a premium for goods perceived as being green.

“The average, for all who say they would or might pay more, is a 14% premium above what they would pay for a non-green product.”

“Gen X (29%) is more likely than Boomers or the Eisenhower Generation (20%) to say “yes” to higher prices for green products. Gen Y and Gen X lead all other generational groups by claiming they would pay 16% more for environmental friendly products. Willingness to pay a premium for green products is rising. When we asked this same question a year ago (June 2007) we found that those willing to pay more to buy green would tolerate an 11% price differential. ”

The study also found that an additional 56 percent of Americans may be willing to pay extra for “green” items on a case-by-case basis.

Original source: Leisure Trends