CEA: Green Trends Help Retailers Gauge Consumer Buying Patterns
Green is red hot. Discussions surrounding all things green have exploded during the past 12 months. In the CE industry, ‘green’ discussions tend to focus on product design, product usage (power consumption), or product disposal. With the DTV cut-off fast approaching, the issue of what consumers will do with old televisions has been especially poignant. The green wave will impact companies of all sizes and types in some way. Those that understand the key trends will be best positioned to act strategically.
A recent study of 1,000 U.S. adults by the Consumer Electronics Association provides a few clues to help understand consumer perceptions and behaviors. The study reveals t attitudes toward green practices are on the rise. Consider this, 91 percent of consumers believe recycling is an important or very important responsibility, up from 84 percent in 2005. The research also reveals increases in the importance placed on recycling electronics devices (nine points since 2005) and household appliances (11 points since 2005). Additionally, about two-thirds of Americans consider themselves environmentally conscious. The data shows women are slightly more concerned about recycling and the environment than men, while higher income households place greater importance on recycling than lower income households, something to keep in mind as green product positioning emerges.
Not only have attitudes about green practices changed, so have behaviors. In 2007, consumers said they removed nearly 289 million units of CE products from their homes. Most unwanted devices are given away to charities, friends and family members. The key trend over the past decade has been the increase in recycling and decrease in CE products entering the waste stream. Last year, consumers reported recycling more CE devices than they trashed, unlike 2005 when the reverse was true. More consumers expect to take the CE recycling route next year. One in four expects to recycle, compared to only six percent that expects to dispose of their product via regular trash service.