Green Consumption - A Sustainable Global Opportunity

Global economic slowdown is gradually diffusing across the whole of the developed world. As a repercussion and in hope to reverse the trend, the developed world for protecting their home industry are raising various issues in the name of quality and environment while trading with emerging markets. This is in addition to pressure of containing carbon emission to check global warming. The industry is in need of such innovations that can enhance their global competitiveness. Green consumption is a trend acceptable universally does no harm to any one and benefits everybody due to its sustainable character. Adapting business practices to green consumption and following green marketing are areas investigated in this paper using available literature and its’ contents analysis. Paper focuses on challenges faced by corporations in applying green practices in consumer marketplace and then provide marketers with beneficial suggestions. Findings suggest that as green consumption of consumers is growing, it is imperative for companies to adapt that in business programmes by applying green practices; consumer green consumption is thus reflected as the cause of corporate green practices. It is observed that environmental movement; societal concerns; consumer boycotts and their responsible, rewarding and cohesive behaviour act as its reasons. Consumer’s cost-benefit analysis, dump psychology, fake outlook in surveys and busy lifestyles are identified as challenges impeding green practices but marketer’s own communication problems, knowledge insufficiency and green marketing myopia are also noted enhancing their problems. The study will provide inputs to business for transforming them as innovative, eco-friendly and globally benchmarked organizations.