Study: Green market has $104B potential

By: news@gbb.org

 A recent study shows consumers are ready to go green but aren't finding what they want in the market.

The National Technology Readiness Survey sponsored by the Center for Excellence in Service at the University of Maryland's Robert H. Smith School of Business, and the technology research firm Rockbridge Associates Inc. found that there was a potential for sales this year of $104 billion for environmentally friendly consumer products and technologies.

But while 83 percent of adults said they wanted to protect the environment, and 59 percent said they like trying new technologies to help the environment, about 42 percent said such technologies were hard to find.

Almost half the environmentally friendly technology sales could come in the realm of more-environmentally friendly vehicles, the study found.

And for the most part, researchers' findings on marketing green technologies were similar to marketing just about any new technology. "Our research found that green technology trends are led by a small yet powerful group of influencers that actively act as evangelists to a secondary group of adopters" said P.K. Kannan, director of the Center for Excellence in Service.

Source: East Bay Business Times