STORES Magazine - December 2008 - (Page G18)

GREEN RETAILING / RESEARCH Sponsored by In general, how much do you exaggerate the following? How much money you make How much you exercise How environmentally responsible you are Never exaggerate Sometimes exaggerate Neutral or uncertain Exaggerate Always exaggerate 44.0% 24.9 20.8 7.3 3.0 28.8% 26.9 27.2 13.6 3.5 30.7% 28.1 28.8 9.5 2.9 Would you describe yourself as environmentally responsible? Not at all responsible Not responsible Neutral or uncertain Responsible Very responsible 2.3% 6.1 39.5 40.0 12.2 How well do the following terms describe being environmentally responsible? Green Organic Sustainable post and buy recycled products. Even so, retailers and other businesses need to “be aware that this is something consumers are looking for,” Kremer says. “The data suggests that caring about the environment and being green — in stores and for companies that manufacture products — is increasingly important to consumers.” Sixty-three percent said that it was either important or very important that the retailers they patronize care about the environment. That’s about the same percentage that said they’re concerned about retailers’ being good corporate citizens (65 percent), although respondents ranked it below low prices (87 percent) and offering quality products and services (92 percent). Respondents said they hold corporate America responsible, to some degree, for protecting the environment. Sixtythree percent said businesses were very or somewhat responsible; that exceeded the percentages for faith-based institutions, governments and said that it was non-profit organizations. Only either important or individuals (69 percent) were very important that ranked higher. the retailers they At the same time, survey par- patronize care ticipants indicated some skepti- about the cism about others’ claims to environment being green. Nearly two-thirds of respondents said that they thought others exaggerate the degree to which they’re environmentally responsible – but only 12 percent agreed that they exaggerate the degree to which they act in an environmentally-responsible manner. 63% Does not describe at all Does not describe Neutral or uncertain Describes Describes very well 6.0% 6.5 21.5 27.3 38.7 10.6% 12.9 27.1 24.0 25.5 5.5% 7.6 29.3 29.8 27.8 What impact do you believe the following have on protecting the environment? Buying Buying local products/ environmentally produce responsible products Driving a hybrid or fuel-efficient car No impact at all: Slight impact Neutral or uncertain Some impact Significant impact Source: BIGresearch 4.8% 8.4 25.6 31.7 29.4 4.2% 7.3 23.7 34.1 30.7 3.9% 5.9 22.1 32.8 35.3 Make reasonable commitments That suggests companies have to be able to back up their claims of environmental friendliness: Rather than simply jumping on the green bandwagon, they should consider the commitments they can realistically make and hold to them, Kremer says. And consumers aren’t likely to pay more for products just because they’re green. A few early adopters will pay a small premium for low-cost items, Kremer says, but their willingness decreases as the cost of the product rises. For example, one-third of respondents said they wouldn’t pay a premium for an environmentally-responsible product costing about $75. More than half would refuse to pay a premium on larger products, such as cars. Few consumers will purchase something they don’t want or need just because it’s green. “Don’t be so excited about jumping on the green bandwagon that you lose sight of the actual product,” Kremer says. Instead, retailers and manufacturers of consumer products still need to offer goods that consumers want, but try to design, manufacture, transport and offer those items in an environmentally-friendly way. “It’s definitely something to pay attention to,” she says, “but proceed with a little bit of caution.” WWW.STORES.ORG G18 STORES / DECEMBER 2008 http://WWW.STORES.ORG

Table of Contents Feed for the Digital Edition of STORES Magazine - December 2008

STORES Magazine - December 2008 Contents Executive Editor's Page President's Page Wrap Rage Unraveled What Shoppers Think Courting a Comeback 10 Things You May Have Missed Numbers Worth Counting Full Price/Markdown Retail People Cover Story: Navigating the Road Ahead Website Strategy Concept2Watch Online Customer Service International Marketing Green Retailing Online Merchandising Signage Operations Online Strategies Pricing Strategy Kiosks RFID Human Resources Loeb Retail Letter ARTS Update Point of View NRF News Retail Crossword Retail Industry Calendar Last Laugh

STORES Magazine - December 2008

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