Eight out of ten consumers on average in China, Singapore and India are willing to pay a premium of 27 percent for products and services certified as Green.
In contrast, business estimate that less than half (43 percent) of consumers to be willing to pay more for Green credentials and those who are willing, would only pay a premium of 14 percent.
What can businesses learn from the TÜV SÜD Green Gauge 2010?
The results of this research clearly demonstrate that we have reached an era where Green products and services not only help tackle pertinent environmental issues but make genuine business sense. Over the next five years, this is only going to intensify. With a comparably limited number of Green products and services currently on the market, firms that act quickly to capitalise on this growing trend will reap significant rewards.
Businesses who currently do offer Green products or are planning to do are well advised to communicate the benefits of their impact their customer not just on “greenness” but also emphasise on quality and benefits such as health and safety.
Ensure your Green product or services meets independent certified standards, as consumers are aware of green certifications and place importance on independent certification. TÜV SÜD can provide support in choosing
a suitable Green certification scheme and testing and certification to which that will document ongoing commitment to sustainable products and process practices to your customer.