| Updated:
Green spending to double in Europe within five years
SALES of environmentally friendly products are set to double in Europe by 2015, but will still only account for five per cent of total retail sales, with shoppers deterred by higher prices, a study said yesterday.
The Centre for Retail Research (CRR) and Kelkoo forecast the price premium on “green” products would shrink from 46 per cent to 40.5 per cent by 2012, still too high for many consumers.
“Green products will not become commonplace until suppliers give consumers better price incentives,” said Bruce Fair, managing director of Kelkoo UK.
The CRR said sales of green products would double from €56bn (£47.5bn) in 2009 to €114bn by 2015.