Karachi: The voluntary “green” consumer trend has grown considerably over the years. Consumer behaviour is continuously changing and the market is seeing a shift in demand for green products, as more and more consumers are opting to buy green products, companies are enhancing their green initiative and focusing on the environment-friendly products.
Leading manufacturers are in a battle to win both the hearts and the minds of the consumer. Although most consumers have a built-in conscious to protect the environment for future generations, consumer behaviour is not solely an environmentally based decision. Consumers seek to find products that make both complete economic and environmental sense, saving previous dollars and resources. According to a survey conducted by Euromonitor International, 85 percent of consumers worldwide believe that price is a key factor when purchasing a product. Although, 70 percent of consumers are willing to spend more on green products compared to the same product without green features, the recession has played an important role in the consumer buying behaviour. At the current time, buyers are more interested in cutting costs and decreasing their monthly expenditure as a percentage of their gross disposable income.
Consumers are requesting greener products that are cost friendly. Manufacturers are working on meeting these demands through day to day innovations. Mr. D. Y. Kim, President of LG Electronics Gulf FZE said: “The technology industry nowadays is at height of its competitiveness. Companies are researching green products and introducing new innovations to the market every day.”
Consumers of today want the products of tomorrow which cost less money and save more money. Savings whether of energy consumption or income have equal importance ensuring manufacturers focus on shortening the cycle of innovation to create products.
Green consumer trends will continue to grow over the next decade. It is the responsibility of global leaders to continue driving innovation meeting the demands of consumers and keeping the planet green.
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