If you own a business and are deciding whether to create a green product line, a question that you are probably asking yourself is – Who buys green products and why?
When it comes to green products, there is a common misconception that they are only purchased by people who care about the environment. But this isn’t entirely true.
While those who care about the environment are more likely to buy green products, the reality is that there is no homogeneous single target market for green products.
In fact, the target market for green products is constantly changing and evolving. This can be attributed to a number of factors, including the ever-growing awareness of the importance of sustainability, as well as the increasing availability of eco-friendly products.
In this article, we will discuss the target market for green products and provide some insight into who buys them and why.
What are Green Products?
If you’re considering starting a green product line, for sure you know what green products are. But since there isn’t a consistent agreed definition of green products for the sake of this article let’s define them.
Green Products are products that have been designed and manufactured to have the least possible negative impact on the environment.
This includes products that have been made using recycled materials, as well as products that are designed to be reused or recycled. Green products use less water, less energy, generate less waste and are biodegradable. Furthermore, they have a lower carbon footprint than similar conventional products.
Now that we know what they are, let’s see some examples of green products.
Examples of Green Products
Here are some examples of green products that are most commonly available to consumers:
- Eco-friendly cleaning products
- Recycled paper products
- Reusable shopping bags
- Energy-efficient appliances
- LED light bulbs
- Vegan cosmetics
- Recycled clothes
- Solar water heaters
- Biodegradable garbage bags
- Vegan candles
- Electric cars
As you can imagine this is only a very small subset of green products that are available on the market. There is an opportunity in almost every industry to create green products and as people become more and more aware of the importance of sustainability, we can only expect this trend to continue.
Who is the Target Market for Green Products?
The target market for green products can be classified into different segments.
Note, however, that it isn’t always possible to cleanly put a consumer into a single segment. Most consumers will have multiple motivations for purchasing green products and so could easily cohabit more than one segment. Your marketing strategies will need to take this point into consideration.
So, here are the key segments of the target market for green products:
- People who care about the environment
- People who are health-conscious
- People who appreciate quality
- People who look for sustainable sourcing
- People who look to buy local
Let’s look at these segments to understand why they buy green products.
1. People who care about the environment
This is the most obvious target market for green products.
These are people who are environmentally conscious and have a strong preference for sustainable and eco-friendly products.
They are also willing to pay more for environmentally friendly products because they would like to do their part in saving the planet.
One way people are showing that they care for the environment is by buying electric cars. And one way to attract consumers to your green products is to target the market for electric cars.
2. People who are health-conscious
People who are conscious about their health are another target market for green products.
This segment of the market prefers green products because they are made from natural ingredients and are free from harmful chemicals.
So those who are likely to buy green products are also those who are interested in healthy food.
Interestingly, many people who buy green products are also interested in vegan food. And so from a marketing standpoint, you could find potential customers by targeting those who frequent vegan restaurants.
3. People who appreciate quality
Many people equate green products with quality. And so yet another target market for green products are people who are looking for quality.
This segment of the market appreciates the fact that eco-friendly products are made with better materials and craftsmanship, and so they are willing to pay more for these products.
4. People who look for sustainable sourcing
These are people who prefer to buy products that have been sourced and produced in a way that is ethical and sustainable.
They are willing to pay more for green products because they know that their purchase is supporting a sustainable supply chain.
One interesting and growing market is the market for sustainable fashion. This includes the same group of people who are attracted to green products and this opens many cross-marketing opportunities.
5. People who look to buy local
This target market for green products knows that when products have to be transported over long distances, it hurts the environment.
So they prefer to buy green products that are sourced and produced locally.
As you can see, there is no single target market for green products. Different people by eco-friendly products for different reasons.
The important thing for businesses to remember is that there is a growing demand for green products, and so businesses should definitely evaluate creating green product lines to expand their existing businesses.
Green Products are those that have been deliberately designed and manufactured to have the least possible harmful effects on the environment. Not surprisingly, green products attract consumers who care about the environment and want to do their bit to save the planet from ourselves.
But the target market for green products is not limited to those who are concerned for the environment. In addition to their benefits for the environment, consumers buy green products because they are health-conscious, and green products are made without the use of harmful chemicals. Some people are attracted to green products for their superior quality. Others buy green products because they support sustainable sourcing or buying local.
There is an opportunity to manufacture green products in almost any industry and if you are considering adding a line of green products to your company’s product portfolio or if you’re a store owner and considering carrying eco-friendly products, be sure to understand the true motivations of your target market for green products. If you find a product-market fit where the products you make or sell appeal to the needs and drivers of your target market, your new line of green products will be on its way to success.