Is Your Finger on the ‘Green’ Consumer Pulse?

Is your business watching the market to determine which factors might ultimately determine ‘green’ consumer choices? Are these choices for alternative products factoring into your business strategies and planning? Is the consumer voice even making its way into the boardroom?

As we approach the end of a challenging time for many organizations, several business sustainability questions still remain unanswered as companies plan for 2010 and beyond. An uncertainty lingering on the minds of executives in the retail and wholesale space is whether green consumer shopping habits have changed during these tough economic times.

With preferences for sustainable products still on the rise and overall consumer behavior stabilizing, recent information about consumers indicates that there may be a significant market shift visible across certain demographics. Specifically, trends among younger consumers indicates they are expecting more from their ‘green’ purchases.

The reality is that market shifts and company sales numbers indicate consumers are becoming a key reference point for a company’s ability to capitalize on eco awareness, product stewardship, reputation, and overall business sustainability. Top organizations looking to make significant change are engaging consumers as key business stakeholders and aligning feedback with strategic business sustainability planning and development.

Businesses are taking note of specific consumer interests. In a report, The Corporate Reality of Consumer Perceptions, GreenBiz examines the consumer point of view (POV):

•    Sustainability: Do you think sustainability is an important part of how they do business?

•    Product Impact: What direct impact do you think the main products they make and distribute have on the environment?

•    Investment Attractiveness: If it was possible and you had the funds, how likely would you be to invest in this company?

•    Advocacy: How likely is it that you would recommend this company to a friend or colleague?

Based on the report findings, specific corporate actions and customer engagement on specific sustainability concepts may be a driving factor in future company success. Corporate Social Responsibility (CSR) metrics could become the new performance measure that helps monitor and reinforce progress.

At Taiga Company, our sustainability consulting stresses the importance of customer stakeholder engagement. We provide information and resources to help business go beyond consumer preference to actively engage consumers in sustainability concepts that directly impact business direction, planning, and product development.