Study authors see $104 billion appetite for green products

Phoenix_business_journal_jpegConsumer demand for green is moving faster than the supply?  A new study reveals that consumers are ready for green tech even though the companies haven’t provided them with the green marketing and products that we expect are needed to convince consumers that green is in.  Hopefully this trend isn’t limited to the tech sector.  We’ll have to wait and see…

Posted March 26, 2008, The Business Journal of Phoenix

A recent study shows consumers are ready to go green but aren’t finding what they want in the market.

The 2007 National Technology Readiness Survey sponsored by the
Center for Excellence in Service at the University of Maryland’s Robert
H. Smith School of Business and technology research firm Rockbridge
Associates Inc. found that there was a potential for sales this year of
$104 billion for environmentally friendly consumer products and
technologies.

But while 83 percent of adults said they wanted to protect the
environment, and 59 percent said they like trying new technologies to
help the environment, about 42 percent said such technologies were hard
to find.

In an effort to tap that market, companies such as Henkel Corp.,
parent to Scottsdale’s Dial Corp., launched an initiative to align its
laundry and home care products with the best possible environmental
compatibility. One example is to ensure maximum savings in water and
energy consumption not only in production but also in the consumers’
usage of end products.

Almost half the environmentally friendly technology sales could
come in the realm of more green vehicles, the study also found.

And for the most part, researchers findings on marketing green
technologies were similar to marketing just about any new technology.
"Our research found that green technology trends are led by a small,
yet powerful group of influencers that actively act as evangelists to a
secondary group of adopters," said P.K. Kannan, director of the Center
for Excellence in Service, in a release.

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