Just released surveys point to exploding consumer interest in buying healthy, green products. The even better news for businesses is that 66% of surveyed consumers say they will pay more for products and services that come from companies who are committed to positive social and environmental impact. The business bottom line is that adopting corporate social responsibility is the path to growing sales without damaging price competition.
Key drivers influencing consumer purchases
Nieslen polled over 30,000 consumers in 60 countries. They found that the key factors driving consumer purchases were a mixture of brand trust, natural ingredients, health and wellness benefits. The search by consumers for “in me, on me and around me” solutions has now evolved into a Green Economic Revolution where consumer values-expectations increasingly drive what they buy and who they will buy from.
Here are three telling statistics from this survey:
- 62% of consumer purchases are influenced by a company’s trustworthiness
- 59% of consumers purchases are influenced by a product’s know health and wellness benefits
- 57% of consumer purchases are influenced by a product being made from natural or organic ingredients
The business bottom line is that trying to win consumers through continuous price promotions is generating diminishing revenue results. The key to winning customers, rather than just price promoted purchases, is through selling sustainably sourced products that promote human and environmental wellbeing.
Authenticity drive food sales
Authenticity is replacing branding and advertising in how consumers judge a product. Market researcher Instantly conducted a survey of 4,200 people that were members of their iPoll community. One stunning result was that 80% of those surveyed agreed that food products with artificial ingredients are less healthy than food products with natural ingredients. How focused are consumers on the question of food authenticity? 77% said they review food labels all the time or some times. Only 6% said never.
What is driving this consumer interest in food authenticity? This survey found that 90% of those surveyed agreed or strongly agreed with the statement that “Food products with artificial ingredients are less healthy than food products with natural ingredients.” That says a mouthful on why healthy food sales are growing at three times the rate of conventional foods.
Listen up politicians, consumers support home energy efficiency and solar
The great news is that even though we live in larger homes compared to historical averages we are using 40% less energy per square foot. Even with this success homeowners, unlike some state politicians, are keenly focused on increased energy efficiency and roof top solar power. This is representative of another Green Economic Revolution consumer mega trend. Today’s consumers wants solutions that cost less and mean more. The appeal of home energy efficiency plus solar power is not only reduced environmental impacts measured by healthier local air. It is a proven, and growing, path for reducing electric bills.
Cost less, mean more will be a growing tension between consumers, politicians, regulators and utilities. Requiring utilities to buy more renewable energy will reduce environmental impacts if fossil fuel burning is reduced. Requiring utilities to buy renewable energy may reduce their fuel costs as solar and wind deliver lower prices compared to fossil fuels. What the consumer is waiting to see is lower electric bills from the utility. Not seeing this result will drive consumer in their adoption of home energy efficiency, smart technologies, batteries and solar.
The Green Economic Revolution is shifting corporate social responsibility from a non-core staff activity into a key driver of business revenue success. CSR now shapes how consumers view a company’s authenticity and a product’s value. CSR is the messaging path to the aware consumer, empowered by their smart phone, by connecting the dots between the consumer’s search for “in me, on me and around me” solutions” and a product’s procurement attributes. The new marketing path to the customer in the Green Economic Revolution is through using CSR to make the consumer the hero by enabling them to save money, solve a health problem and make a difference.
About the author
The Boomer Generation Diet is Bill Roth’s newest book and his personal story on how he has lost over thirty pounds and kept it off. Triple Pundit founder Jen Boyton says about this book: “Written in Bill Roth’s lovable, relatable tone…a must read for any Boomer who is looking to jumpstart their health and have fun at the same time. I hope my parents read it!” Visit The Boomer Generation Diet Facebook page to learn more and follow Bill on Twitter @earth2017.