Despite the higher perceived cost and consumers’ increased price sensitivity, these are products that will end up saving money in the long-term
57% of consumers are now more likely to purchase energy-efficient products despite the ongoing credit crunch, according to figures announced by Buckingham Research today.
The online panel survey, conducted by market research agency Buckingham Research, asked a total of 695 respondents a series of questions regarding their purchasing behaviour when buying technology and telecommunications products, including how likely they were to purchase energy-efficient products. Only 9% of respondents said that they were now less likely to buy energy-efficient products, while 34% said they were neither more nor less likely.
The research also highlighted:
- 78% of respondents said that they tended to only buy new products when their existing ones had broken
- Price is crucial in the current climate, with 80% of respondents agreeing that price was a more important factor now than in previous years
- 64% agreed that paying for quality was important as the products needed to last for years
- 26% of those asked were willing to save money buy purchasing lesser-known brands, while 35% were not prepared to switch to lower-cost brands
- 48% are also more open to purchasing technology and telecommunications products in a supermarket
Craig Strudley, Associate Director at Buckingham Research, commented on the results: “It is clear that energy efficiency is still at the forefront of consumers’ minds during the recession. Despite the higher perceived cost and consumers’ increased price sensitivity, these are products that will end up saving money in the long-term.”
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Buckingham Research is a market research agency, providing a wide range of research and data modelling solutions. Its clients are world class organisations with whom it has built strong and enduring relationships, based on an individual approach combined with the application of clever tools and techniques. Buckingham Research is an Optimisa plc company.
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