38% of Americans are Not Willing to Pay More for Eco-Friendly Appliances

Sustainability is all the rage these days but our recent study suggests that, when it comes to going green at home, the picture might not be as simple as you’d hope.
When we asked Americans whether they would pay more for sustainability and eco-friendly furniture and appliances than comparable, non-eco-friendly, ones, our answers showed a clear three-way split:

• 31% of respondents were willing to pay more for sustainable or eco-friendly furniture or appliances
  
• 31% were willing to pay only 5% more for such appliances (and would stick with non-eco-friendly otherwise)
  
• 38% were unwilling to pay any more for appliances or furniture that were sustainable or eco-friendly.
  
  

Are housing costs to blame?

Given the sharp rise in housing costs, both in terms of mortgages and rent, perhaps it’s understandable that more Americans are being extra careful with their spending. Of course, with inflation, consumers art facing increase costs on appliances already, so the extra amount for efficiency may seem a bit too much.

So, if that’s the case it would suggest that more than two-thirds of Americans consider sustainability an optional extra – at least when it comes to home appliances.

Our study fits with a long-term trend when it comes to going green. On the whole, many people are super keen when it comes to sustainability – but their answers are less clear when it involves perceived sacrifices for their lifestyle.

How can retailers adapt and respond?
With our homes responsible for a sizable chunk of our carbon emissions (according to some studies, it could be around 10% of total US emissions), eco-retailers need to think about how they can persuade more Americans of the need to go green.

Perhaps eco-advocates need to update their approach slightly. Rather than advertising their products as better for the planet, they should point out how sustainable appliances can also save you money in the long run.

Some retailers are already doing this. For example, ENERGY STAR fridge freezers, which are specially designed to use less electricity, estimate that they can save owners around $230 over a 12-year lifespan.

Other appliances are more advanced. Such as 'smart' thermostats that utilize 'Internet of Things' technology to save energy without compromising comfort (for example, using your location to turn on your heating at the optimum time for when you get home).

In such cases, eco manufacturers need to speak loud and clear about the benefits of being sustainable at home – and how their products can leave you with more cash to spend elsewhere.

Methodology: To create this study, NewHomesMate surveyed 2,000 Americans aged over 18 years old. The study includes participants of all genders and social backgrounds.