While not all consumers will pay more to purchase an environmentally sound product, many will. Further,  most will avoid products that are not environmentally sound, provided  the prices are similar.   One study found that 66% of consumers in general and 73% of millennials will pay more (although we don’t know how much more) for […]

While not all consumers will pay more to purchase an environmentally sound product, many will. Further,  most will avoid products that are not environmentally sound, provided  the prices are similar.   One study found that 66% of consumers in general and 73% of millennials will pay more (although we don’t know how much more) for a ‘sustainable’ or environmentally responsible product. This does not, of course, imply that these consumers understand what constitutes a ‘sustainable’ product – but it does highlight the importance of the issue. Research has also shown that consumers prefer to deal with and might pay more for products purchased from a business deemed to be a good corporate citizen. One study found that consumers were willing to pay between 2% and 10% more for products presented with accompanying precise CSR information, provided the information was of an appropriate standard.Consumers are caring more and more about the…