Luxury-Goods Makers Brandish Green Credentials, Shouldn’t you?

Recently I came across a very interesting article from the Wall Street Journal by Rachel Dodes and Sam Schechner that showed how luxury good makers are embracing “Green” not just through their corporate social responsibilities but also by providing ecofriendly products.

“Over the past year, many of the world’s best-known luxury labels have started to introduce ecofriendly products, snap up brands that tout their social responsibility and weave environmental themes into their advertising and marketing.”

One has to think, why they are doing this?

How does this apply to the real estate market?

The real estate market would be keen to follow their example for a number of very import reasons.

These companies are the ones who get consumers to spend thousands of dollars on a handbag, they are some of the best marketers and brand managers on earth. They did not attain their success by chance and they are taking the green movement very seriously.

The new idea of “Green” products and services will be common place in a couple of years. These companies are joining the green wave before it is no longer new and has lost it’s cachet.

A new idea or movement that affects every aspect of how we live comes around maybe once in a lifetime. The green movement has been around for a while but over the last couple of years it has gained enough momentum that it is not going away and due to the economic hardships and current recession in North America it will be relied upon to help get us out of recession and back on our feet.

Here lies the key. In this economic down turn, smart companies are taking advantage of going green to not only save money internally (which is a complete other topic for another time) but also to add extra marketing punch to their services showing that they are indeed good corporate citizens providing green services as part of their overall service offerings.

One of the most compelling parts of the WSJ article and the part that should be a wakeup call to the real estate industry is displayed through the following graph:

34% of consumers now are more likely to buy “green” products and services over other products. Who is this 34 %? A good majority of them are younger consumers, the same people who will be the first time home buyers of today and the near future. “In a recent survey, the Luxury Institute, a New York research firm, found that younger and more-affluent consumers seek information about corporate social responsibility more actively than their older and less well-off counterparts. ‘Young consumers believe that caring about the environment is how you create a meaningful life,’ said Milton Pedraza, the firm’s CEO.”

You can find plenty of reasons for going green but one very important reason not often considered is that by doing so you will provide legitimate reasons for the consumers of today and more importantly the consumers of tomorrow to embrace and use the services of REALTORS® now and in the future.

Why not take advantage of this once in a life time opportunity to go green, save money and promote yourself whether you are an MLS, real estate board, brokerage or individual as being a good corporate entity that is leading edge with a social conscience.

Luxuary product makers have invested in this, why shouldn’t you?

Comments are closed.