Wednesday, July 15, 2009

Greentailing in Tough Times

It's not easy being "green," but retailers and manufacturers better start if they haven't already. It may wind up being a distinct competitive advantage. Going green and reducing costs can go together. According to studies, the current recession has not hurt the green movement that much. Six of ten consumers say green affects their shopping behavior -- where they shop and what products they buy. However, seven of ten consumers won't pay more than 5% more for a green product.

So maybe it's time to embrace Greentailing 2.0, the latest generation of going green (the first in the early 1990s fizzled). Neil Stern says the types of green products are: organic, local, natural, recyclable, energy efficient and ethically sourced. The elements of green are: Think Green (must be a core value of the company like at Wal-Mart and Whole Foods), Act Green (in supply chain, packaging), Sell Green (Wal-Mart, Office Depot, Tesco), Convey Green (corporate responsibility).

Go green or be left behind.


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