Americans Would Pay More For Eco-Friendly Products

by Darren

A new report says that Americans would pay up to 15% more to purchase eco-friendly products. Even during the current downtime, people will ante up for extra cash for a green product, but with some stipulations, according to the new survey conducted by GfK Roper Public Affairs & Media and the Yale School of Forestry & Environmental Studies.

“Many American consumers, even in the face of economic uncertainty, express a willingness to pay more for environmentally friendly products,” said Anthony Leiserowitz, director of Yale Project on Climate Change. “Toyota can’t make the Prius fast enough to meet consumer demand, to cite just one example, and many see ‘green’ products as the wave of the future.”

Although the majority of people who responded said they’d pay up to 15% more, they want better labeling to ensure they’re getting what they bargained for.

In what can be described as good news for the current eco-labelers, 75% of all survey respondents said they trust the current labeling programs.

“These results suggest that manufacturers who offer high-quality and credibly labeled eco-friendly products will have opportunities to gain a competitive edge,” said Graeme Auld, a doctoral candidate at Yale School of Forestry & Environmental Studies.