Saturday, June 07, 2008

PEIE Says Gen Y Are Environmentally Aware

Consumers across the globe are quick to identify polluting companies as ‘socially irresponsible’ and make their purchasing decisions accordingly, claims a recent survey. The poll also found that Generation Y consumers - typically characterized as people born after 1980 - will spend more of their money with organic and environmentally conscious companies than any other age group.

The survey, by the research firm Global Market Insite, quizzed more than 15,000 online consumers in 17 countries about their socially conscious business practices.

When asked which factors were the most important in determining if a business is socially responsible consumers placed importance on corporate community involvement; ‘contributing to the community’ (sponsorship, grants and employee volunteer programs) and environmentally preferable practices (recycling and using biodegradable products) as top factors.

In preparation for the forthcoming Oman Manufacturing Group (OMG) seminar, to be held at the Muscat Inter-Continental Hotel, Monday 9 June at 7:30pm, PEIE’s Marketing Team conducted informal research which revealed that a significant number of Oman-based consumers rate giving back to the community as a top priority in recognizing socially responsible companies. “This shows that people want to feel connected to each other and they’re willing to reward businesses, local as well as international, who tap into this sense of mutual support and belonging. It is concerns like these that will be discussed at Monday night’s OMG seminar,” says Ibtisam Al Faruji, Head of Marketing at the Public Establishment for Industrial Estates (PEIE) and organizer of the quarterly OMG seminar program.

“From a PEIE perspective, and given today’s interest in the environment, particularly amongst the youth, Oman-based manufacturers need to think more about their green credentials as core to their business and brand and central to how they market themselves,” remarks Al Faruji.

According to PEIE’s Head of Marketing, Oman’s Generation Y is environmentally conscious, this is expected given that many are aware of the issues surrounding globalization and trade and how this can negatively affect the sultanate’s environment. “A large number of the young people we polled are prepared to pay more for socially responsible products and services. Indeed, over 30 per cent said they would be more inclined to work for a ‘green’ company, while 60 per cent believe their current employer should be doing more to improve its environmental performance,” says Al Faruji.

Blog contents copyright © 2006 PEIE