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Green products face test as economy worsens
October 21, 2008
Green products face test as economy worsens
The United States government statistics show that consumer spending is falling sharply, and the retail sector is reducing jobs faster than other industries.
While consumers are, increasingly, factoring the environmental friendliness of products into buying decisions, green products nearly face a tough road to broader acceptability as the United States slides toward economic depression.
The declining economy will likely encourage companies to adjust their strategies to focus on cost savings inherent in their green products, whether through energy or water savings or improved gasoline mileage.
Companies are also facing difficulty to gain recognition for brands associated with the green products they market.
According to a recent survey, companies could do better by focusing their marketing on creating an emotional connection between consumers and eco-friendly brands.
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