With increased among the masses about energy efficiency and its benefits, more and more consumers are opting for energy-efficient products even though these are more expensive than their conventionally produced counterparts. The article talks about why and how it is becoming necessary for firms to focus on energy-efficient products to ensure goodwill in the market and also to generate a steady stream of profit.
Energy efficiency as a buzzword is rapidly catching on among consumers. According to a 2014 Nielsen report, 64% of consumers in the Asia-Pacific region show interest in buying appliances from brands that are known to be socially or environmentally responsible.
Clearly, consumers are now awakening to the benefits of products certified to save energy and leave lesser ecological footprints, given that climate crisis is manifesting itself in an unprecedented increase in the earth's temperature and other subtle, though not very closely felt changes.
However, it is also true that the most attractive attribute of these products is their cost effectiveness, which offsets, and sometimes even outdoes the initial investment over a period of time. With high durability and a promised lower electricity bill, buying energy-efficient products can only make sense.
Well, even if cost effectiveness is the only driving factor for increased sales of eco-friendly products, there is no harm in touting the products like that cheaper in the long run and good for the environment as well if people are ready to replace their energy guzzling and polluting sets. And since the trends show that is already happening, it is high time businesses are alert about what their consumers want and will demand in the future.
Energy-efficient appliances are a suitable alternative to replace conventional fixtures in finished buildings. However, savings in energy and money will be higher if buildings are designed to be energy efficient as well. The Energy and Resources Institute has proposed recommendations, which if followed by just 10% of the buildings made in cities every year, can generate savings to light 20 million rural households.
If energy efficient appliances are the demand of consumers, real estate developers can also expect to gain more business if they offer their clients plans for energy-efficient buildings. Certainly, the incredible savings on energy and improved living that such buildings provide will be appreciated by consumers since it is simply good sense to invest a little more to get life-long savings when one is already spending a good fortune on property construction.
The Indian consumer today doesn't shy away from spending a little more if it promises better results and savings over time. Therefore, businesses should go ahead and bring in more energy-efficient products and plans. The best marketing word of mouth will soon work its way and bring in profits.
Do you agree that most people buy appliances on the basis of how cost effective they can be? Let us know what you think.