Credit crunch hits green sales
Consumers may be forced to limit their spending on green products due to the current financial climate, according to a new report.
PricewaterhouseCoopers found that nearly half of the 4,000 consumers surveyed said that they would not be willing to pay more for more environmentally-sustainable items, the Guardian reports.
The company's research revealed that consumers on average pay 45 per cent more for environmentally-friendly or fair trade products.
Mark Hudson, UK retail and consumer leader at the firm, said: "The credit crunch will act as a bump in the road and slow down the rate of customers switching to green products."
According to the newspaper, the firm estimated that the organic and fair trade products currently account for just four per cent of the overall retail market in the UK.
Last month the Waste and Resources Action Programme reported that the UK throws away 6.7 million tonnes of food each year.
Councils spend approximately £1 billion on the collection and disposal of this waste.
Article Date: 17 June 2008
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