Is ‘eco’ still going to be big?
Wondering how the financial crisis is going to effect your business? Well, you’re not alone. Trendwatching.com recently posed it as question #1 in their Top 15 Trend Questions (and Answers). In answering the big question, they give answers to various ‘recession’ related questions, including the eco-question on my mind: “Is ‘eco’ still going to be big?”
A: Why not? Sure, certain overpriced organic nice-to-haves will suffer, but we’ll most likely see a surge in what we’ve dubbed ECO-CHEAP: cash-strapped consumers going out of their way to save money on energy bills, motorized transport and other waste-prone, eco-unfriendly activities. While the environment may not be their first concern, there will be less polluting nevertheless.
So, what’s the take away for eco-entrepreneurs? To weather the current financial storm, position your products and services as providing the core consumer benefits of cost savings, waste elimination and improved efficiencies. People are looking for hip ways to save money. Combine this with another trend cited by Trendwatching.com, NO-FRILLS CHIC: well-designed yet affordable products and services, and you can have a solid strategy for these volatile times. All said, appealing to the eco-cheap with well designed, affordable products and services makes a lot of sense.