Most of us are aware of the importance of being sustainable in our everyday lives and how our actions affect the environment. Everything we do has an impact – the food we buy, the car we drive (and how long/often), the homes we live in, where we travel to and stay on vacation. And there are a number of studies that show if businesses listen to the wants of their consumers, they are likely to increase their reputation and their bottom line.
In one such study which was recently published, conducted by market research firm American LIVES, researchers spent 18 years (yes, that’s right – years) tracking the values that baby boomer generation consumers place on sustainability. Here are some highlights from the findings:
– 97% were interested in high energy efficient heating and cooling for their own homes
– The majority of respondents said they would pay more for a sustainable home
– 87% said they thought favorably of a hotel company that had a green design / sustainable practices
– And 50% said they would be willing to pay up to 5% more to stay at such hotels
Here at The Refinishing Touch, we’re glad to see consumers embracing these types of changes. But hotels, along with other businesses and organizations, need to act, and to take these findings into consideration when reviewing their furniture assets and planning upgrades to rooms, offices and accommodations. It’s not just about meeting customer expectations – it’s also about being cost-efficient: remember, refinishing furniture is upwards of 80 percent less than buying new.
So by committing to sustainable options, businesses have the opportunity to take care of the environment and make more money—and we think it’s difficult to find a downside in that outcome.