{"id":2619,"date":"2008-01-15T09:18:33","date_gmt":"2008-01-15T15:18:33","guid":{"rendered":"http:\/\/wordpress-367309-1145705.cloudwaysapps.com\/2008\/01\/15\/a-time-to-be-green-or-to-save-your-greenbacks\/"},"modified":"2008-01-15T09:18:33","modified_gmt":"2008-01-15T15:18:33","slug":"a-time-to-be-green-or-to-save-your-greenbacks","status":"publish","type":"post","link":"https:\/\/sustainablog.org\/articles\/a-time-to-be-green-or-to-save-your-greenbacks\/","title":{"rendered":"A Time To Be Green or to Save Your Greenbacks?"},"content":{"rendered":"

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Will a recession\u2014or the prospect of a recession\u2014curb consumer desire for green products? In the shadow of flat growth, will corporations slow their corporate social and environmental initiatives? Will we see a decrease in the burgeoning world of green marketing? The word “recession” has been splattered upon every newspaper and on the tongues of anyone with some knowledge of the lending crisis and skyrocketing price of petroleum. The question on my mind is whether an economic downturn will play a factor when consumers shop. Will green products take a backseat again?<\/p>\n

According to the big-poppa of all securities firms, Goldman Sachs<\/a>, consumer spending will continue to slow as the sickly housing markets have made it difficult for people to tap into their home equity. Another interesting thing to think about is how this will cause the unemployment rate (currently 5 %) to increase \u2014 economists predict it will increase to 6.5% by the end of 2008. Fewer jobs equals less money to be mixed in the economic batter and one more reason why consumers may opt for less expensive non-green goods.<\/p>\n

There has already been evidence of consumers tightening up their wallets in other areas needing of discretionary income: the technology sector<\/a>, which was very recently a safe haven for investors fleeing the housing markets, is fleeing the squeeze as consumers cope with the decreasing value of their homes and increasing fuel costs. In the days prior to January 1, the S&P technology index dropped 7.7 percent, making it the worst performing sector. Will consumers be just as wary to opt for premium priced green goods?<\/p>\n

In the fourth quarter of \u201907 and even into the new year we\u2019ve seen copious amounts of data pointing to increases in consumer spending on green goods or goods from companies with a green bent:<\/p>\n