Flip through the latest issue of Gulf Weekly.
Consumer behaviour is continuously changing and the market is seeing a shift in demand for ‘green products’.
As greater numbers of consumers are opting for environment-friendly products, many leading manufactures are expanding their portfolios to satiate the rising demand.
However, consumer behaviour is not solely an altruistic and environmentally- based decision. Consumers are looking for products that make both economic and environmental sense.
According to a recent survey, 85 per cent of consumers worldwide are more interested in cutting costs and decreasing their monthly expenditure.
Although, 70 per cent of consumers are willing to spend more on green products compared to the same product without green features, the recession has played a very important role in consumer buying behaviour.
Manufacturers are still working on meeting these demands through day-to-day innovations. D Y Kim, president of LG Electronics Gulf FZE, said: “The technology industry nowadays is at height of its competitiveness. Companies are researching green products and introducing new innovations to the market every day.”
Modern consumers want products which cost less money and save more money (and consequently, the environment). Savings whether of energy consumption or income have equal importance ensuring manufacturers create products such as the Steam Direct Drive washing machine from LG which uses 35 per cent less water and 21 per cent less energy.
Other innovations from the company include the Eco-friendly R600A refrigerant equipped with Linear Compressor technology which saves up to 40 per cent of energy and LED lighting which could save up to 84 per cent on energy.
The survey went on to say that green consumer trends will continue to grow over the next decade.
