As we all know by now since the media will not make us forget it: We are in a worldwide recession. We actually are in a Triple E crisis involving Energy; Economic and Environmental components. As a matter of fact as we get out of this recession we will dig even deeper into the Energy and Environmental crisis.
During a recession consumers become more sensitive to price as compared to other product attributes such as quality or brand. Consumers are trying to stretch their dollars and become more concerned about what they can afford across all product categories from laundry detergent and frozen pizza to clothing and furniture. A number of studies and articles and have shown most consumers change their purchasing behavior during a recession; not only the ones temporarily unemployed and laid-off. Green products seem to defy this trend and may be somewhat recession-proof. A number of reports in recent days from Forrester Research, the Carbon Trust Standard and IRI have shown environmental considerations remaining important even during a recession.
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