17 Apr 2008 11:04:07
Brits willing to pay extra for green products
A new survey has revealed that UK consumers are more likely to spend more for products that are more environmentally-friendly, it has emerged.
According to the study, conducted by online bank cahoot, an estimated 40 per cent of people in Britain admitted they would pay that little bit extra for products that were more energy-efficient or produced organically.
It was also found that on average, consumers would be willing to pay up to 10 per cent more for such goods and services and that among this group, women were more prominent than men.
Commenting on the study, cahoot's director Matthew Timms said: "It's great to see that so many of us are developing a conscience when it comes to our weekly supermarket shop."
It was also found that consumers over the age of 65 were more environmentally conscious than 18-24 year olds, with 72 per cent buying green products in comparison to 52 per cent of the younger demographic.
A recent article for wbztv.com suggested that this green buying trend extended to those buying a new home, with more people shopping for eco-friendly properties.