Eco-shoppers still spending
16th June 2008
As rising inflation means most households are increasingly keen to make savings on their household bills, eco-shoppers are still spending the same if not more than before.
That is according to new research by Virgin Money which found that 80 per cent of shoppers were spending the same or more on environmentally friendly produce.
Scott Mowbray, Virgin Money spokesman, said: "It's not uncommon to see expensive goods decline in popularity during a time of economic downturn but the research shows that concern for the environment is not a passing fad and consumers are prepared to make other sacrifices in order to stay green."
The study revealed that under-25s and over-65s were most likely to be keen on green products and were least likely to be making savings by cutting back on eco goods.
Whilst the number of people putting money into savings accounts has increased since the economic downturn, 76 per cent of shoppers are still adding £12 onto their monthly food bill by buying green.
Those households spending extra on green goods would be wise to stow some money into a savings account as according to Moneyfacts, rates on fixed rate bonds are continuing to increase.