Green marketing is advocating sustainable policies of a given organization or particular items. It covers actions promoting the protection of the environment. The consciousness of our decisions and the impact they have is rising therefore, 6 in 10 consumers find it essential that the product is sustainably made. 43% of Americans would more willingly purchase food from a manufacturer committing to sustainability and 25% of US citizens admit to willing to pay more for eco-friendly garments.
The trend of being green
In the reality of climate change, natural disasters and species extinction, there is no wonder people started to pay attention to their actions. Living sustainably and advocating companies acting for the sake of the environment became a strong trend. The assumptions of marketing based on conscious help of nature have become the foundation for creating necessary tools, useful for increasing sales, and expanding the customer base. Moreover, with the help of social media and eco-influencers, sustainable life and the support of companies acting for the environment became popular, especially amongst young people.
Why should organizations go green?
Green marketing is an excellent solution and a mix between serious global issues and a promising strategy. With an accurately chosen plan and tactic, your business can not only benefit the environment but also put you one step ahead of the competition. The demand for eco-products and solutions is living its golden age.
According to the Environmental Performance Index, the leader in promoting green marketing is Europe – with Denmark, Luxemburg, and Switzerland in the top 3. The US is positioned in 24th place, which is not that bad given the size and population.
Consumers want to be eco-friendly
When it comes to being green, the first thing we have in mind is the food industry. As it is something we introduce to our bodies, we are reaching for healthier and therefore more sustainable groceries.
From the Food & Health Survey of IFIC Foundation conducted in 2020, we can deduce that 43% of Americans would more willingly purchase a product from a manufacturer committing to sustainability, while 34% say that sustainable products have a real impact on their buying decisions. Moreover, 6 in 10 consumers find it crucial for production to be sustainable.
When it comes to different branches of purchasable goods such as clothes and accessories, we are willing to pay more for products from companies adding to green ideology. According to the CGS Retail and Fashion Sustainability 2020 poll with over 2000 participants, 61% say sustainability plays a substantial role in product selection. 25% of US and 24% of UK, 18-34 age pollsters said they would pay even 25% more than the original price for goods produced while maintaining environmental awareness.
Millennials and Gen Z as leaders of eco-revolution
According to statistics, the demand for environment-friendly products is high, especially among Millenials and Generation Z, and it should be. After all, they are the ones to experience the effects of air pollution, microplastic in oceans, and exploitation of natural resources. It is not only that – companies target their customer base via Social Media, so naturally, the information will reach people who use it daily. Studies show that 68% of millennials are more likely to buy a product with a social or environmental benefit.
Opportunity for companies
Generally, products advertised as eco-friendly constitute around 22% of store sales and it is estimated to rise to 25% in 2021. Considering 80% of Americans claiming they are more respectful of companies applying environmental awareness in the production processes, 92% would more willingly buy wares of the sustainable brand. That shows green marketing is an excellent opportunity for the company to expand its consumer base and increase sales.
Greenwashing as anti-advertisement
Inevitably, every hero has to have his antagonist, and so as the opposition to eco-friendly tactics, greenwashing appears. Its assumption is to use slogans and pictures related to the protection of the environment which, however, do not bring any useful actions. At some point, green marketing became so popular, that a significant number of companies started to benefit from it without living up to their commitments. Therefore brands using eco trends only as a marketing trick are more detrimental than beneficial to themselves in the eyes of customers.
An example of greenwashing could be popular clothing companies, often launching their own “green” lines and making an impression of being eco-friendly. Boasting about the use of sustainable materials, the companies themselves operate in the trend of fast fashion, using tons of artificial textiles and violating human rights.
A popular airline that used misleading data, declared itself as the one with the lowest emission, which was not entirely honest and resulted in a disadvantage for the company.
Joining the battle for the environment pays off
Although converting existing or starting a new investment, following the principles of green marketing may seem difficult or even impossible (depending on previous practices), it will undoubtedly have a positive impact on your company. However, there is a very narrow line between Green Marketing and Greenwashing that companies can cross (even unintentionally), which can result in a decrease in their reliability to the consumer. Having a quick look at the numbers above, properly conducted eco marketing can be a powerful marketing strategy.
Brands based on building environmental awareness through green marketing tactics are increasing their sales. Thus arouse interest in ecology, which can directly transform into benefits for the company and the entire planet.
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