Thursday, September 15, 2011

FEW Willing to Pay to go GREEN

Only 1 in 5 Malaysian consumers are willing to pay more for eco-friendly products.

That is according to a global study by analysis firm Nielsen, and it's pretty low an appetite for greener products on our part.

According to Nielsen’s 2011 Global Online Environment and Sustainability Survey, 9 out of 10 Malaysian consumers show awareness and concern for environment pollution but 20% would actually be willing to pay more towards contributing to a greener world if it cost more to purchase environmentally friendly products.

There were 51 countries worldwide surveyed online and Malaysia ranked 9th in terms of consumer worries about the impact of air pollution and global warming. In this respect, Malaysians have shown good improvement compared to the last poll conducted in 2009. But being aware and concern is useless if they are not coupled with a commitment of sort, and this is where we are still lagging behind other countries.

What this means to the green industry is that this findings will have big implications for retailers and manufacturers looking to invest in environmentally-featured products to meet consumer needs.

I remember a quote by our State Minister of Tourism, Culture and Environment Datuk Masidi Manjun, "...that it is about time we start paying to view cultural shows and performances so that not only will our cultures be preserved but it will become a self-sufficient industry..." or thereabout, and I fully agree with him.

It is about time we pay a little more for eco-friendly products. Hopefully this, together with the incentives given by the government will bring down further the cost of producing such goods.

Read more about Nielsen's 2011 Global Online Survey here.

So there, for every five Malaysians out there, only one is willing to buy the more expensive green products. Could that person be you?

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