The Centre for Retail Research has today issued a report suggesting that Green spending in Europe will double by 2015. The report is also suggesting that the so-called "price premium" between Green and non-Green products will fall from 46% to 40.5% by 2012. So what will be behind the increase in expected Green spending in Europe?
There is no doubt that price competition has been one of the major factors holding back Green spending in the UK and in Europe. However, it looks as though various government initiatives, better acceptance by the general public and price competition could well play major roles in the future. We have already seen a significant increase in the amount of electric cars sold for example in the UK, and within Europe, and other areas of Green spending are also benefiting.
Many believe that the Green sector also has the potential to create hundreds of thousands if not millions of jobs around the world in the months and years ahead. However, the level of acceptance of so-called Green products varies widely across Europe as does the average household spending on these types of products. It will be interesting to see how the Green sector develops in the future with areas such as Scotland putting themselves forward as centres of excellence.
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