Is having an ecologically-sound product really that important to consumers? Yes! Over the last several years, multiple studies have examined that question and the results are conclusive.
“The Sustainability Imperative” is a report issued in October 2015 by Nielsen, a “global performance management company that provides a comprehensive understanding of what consumers watch and buy”. This report notes that:
“In the past year alone, sales of consumer goods from brands with a demonstrated commitment to sustainability have grown more than 4% globally, while those without grew less than 1%.
“Sixty-six percent of consumers say they are willing to pay more for sustainable brands – up from 55% in 2014 and 50% in 2013.”
Forbes Magazine reported on a 2017 study that likewise confirmed that there is an ever-increasing demand for environmentally-friendly products. Forbes cites the key takeaways from the report:
- 68% of millennials bought a product with a social or environmental benefit in the past 12 months.
- 87% of consumers will have a more positive image of a company that supports social or environmental issues.
- 88% will be more loyal to a company that supports social or environmental issues.
- 87% would buy a product with a social and environmental benefit if given the opportunity.
- 92% will be more likely to trust a company that supports social or environmental issues.
Most of the reports have focused on consumable items but the increasing demand for green products is not limited to such things as groceries, personal care products, and textile and paper products. There is also a growing swell of demand for environmentally-friendly durable items.
According to the most recent TrendWatching quarterly report, demand for eco-friendly products is at the top of the “5 Trends for 2020”. The report, which cites the Tesla Model 3 automobile as an example, says, in part:
“… When eco-alternatives are as available, affordable and effective as the legacy option, there’s no reason not to choose them. Eco-consumption becomes less about the status of opting in, and more about the shame of opting out.”
The growing trend toward consumer awareness of environmental concerns and the demand for green products is expected to continue its impact on purchasing decisions. Consumer support of ecologically responsible companies is stronger than it has ever been with an increasing percentage of consumers who are willing to pay extra for products that are environmentally-friendly.
Formadrain has a long history of producing an environmentally-safe system of pipe rehabilitation. Since its inception in 1994, Formadrain has been very conscious of the environment and its responsibility to create a product that respects ecological principles. Formadrain’s no-dig lining solution:
- is a green product containing zero VOCs
- eliminates the need to tear up pavement, landscaping, or trees
- does not create dust or excessive noise
- uses a minimal amount of fuel
- takes a very short amount of time to install and cure
In addition to its many other features, the Formadrain system of pipe rehabilitation is an environmentally safe solution for the rehabilitation of sewers and laterals.
For more information about the numerous advantages of the Formadrain system of pipe rehabilitation, download our free info pack. Or contact Bruce Stevenson, Business Development Manager, at 1-888-450-3986, email Bruce@formadrain.com.