A recent study done by BIGresearch and the Southeastern Institute of Research (SIR) found that customers are much more interested in the environment than most retailers realize. A 2008 online survey of 5,300 adults measured their interest in environmental conservation and the results were incredibly revealing. About 70 percent of respondents either agreed or agreed very much with the statement, "I am concerned about the environment." That's more than indicated that they value their faith and spirituality (68 percent) or are engaged in their community (31 percent). Furthermore, these respondents were not out of the ordinary in terms of exposure to green issues. Fewer than 20% had seen the movie "An Inconvenient Truth" and 16% owned SUVs. This shows that these people are probably not unique in their concern for the environment and therefore commercial real estate and retail companies should not be worried that green buildings will only please "on the fringe" customers. In response to the question: "To what degree are the following responsible for protecting the environment?" 38.9% of those surveyed said companies are very responsible. The data suggests that being green in stores is increasingly more important to patrons. 63% said that it was either important or very important that the retailers they patronize care about the environment.
It is clear that consumers at least partially hold corporate America responsible for protecting the environment. It is crucial for the commercial real estate world to take these statistics and analyses into consideration when investing. 34% of consumers say they are more concerned about the environment than they were a year ago. This is an issue that is getting more recognition daily, it is therefore imperative for companies to go green now. However, experts say that companies must use caution when going green; they mustn't lose sight of the product. 50% of consumers are say high prices are the reason they don't buy green products. Retailers have to keep the price premium for green products under 20% or the efforts will be unprofitable. This caution should not be discouraging; implementing green practices in business is a crucial element to success and becoming more so every year. Boulder, Colorado commercial real estate exemplifies the green methodology and is becoming increasingly aware of the positive affects of sustainable building.
About the Author:
Michael Bittner, owner of Bittner Commercial Advisors, Inc. has earned an outstanding reputation as an investment partner to some of Boulder's most successful Commercial Real Estate companies. His professional experience of over twenty years in Boulder, Colorado Commercial Real Estate transactions affords you an easy way to invest and hold Commercial Real Estate as a productive part of your investment portfolio.
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