Recession slows growth of ‘green’ products: Mintel

| 25/02/2009 | Reply
Recession slows growth of  ‘green’ products: Mintel
 
By Ann Bagel Storck on 2/25/2009
 

The
number of Americans who say they almost always or regularly buy green
products remains unchanged since last year, at 36 percent, according to
consumer survey data from research firm Mintel. This comes after
tripling the previous year, from 12 percent in 2007 to 36 percent in
2008.

Cost remains an impediment to the green market’s growth, Mintel
found. Fifty-four percent of respondents said they would buy more green
products, but the products are too expensive.

“Today’s shopper is looking for value,” said Marcia Mogelonsky,
senior research analyst for Mintel. “True value includes health and
safety benefits, quality, convenience, appeal and trust, all at a
reasonable price. Companies who provide those benefits, as well as
appease shoppers’ green sensibilities, will enjoy success despite the
recession.”

Though the recession is expected to impact sales through 2009,
Mintel forecasts 19 percent growth for green products overall through
2013.

Category: The Americas

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