TREES ARE GOOD FOR BUSINESS
Did you know that trees are good for business? A recent study confirms that consumers respond positively to shopping environments with attractive trees and landscaping. Well maintained landscapes with trees send positive messages about the appeal of a business district, the quality of products offered there, and what customer service the shopper can expect.
Did you also know that?
-Consumers are willing to pay as much as 11% more for products purchased
in landscaped business districts.
-Trees and attractive landscaping can boost property values as much as 6%.
-One study indicates that landscaping boosts occupancy rates.
-A well-placed 25 foot tree can reduce annual heating and cooling costs of
a typical home by 8 to 12%.
Trees and Business
It's a love-hate relationship! There are certainly costs that come with having trees on streets. Yet, a new study provides evidence that trees have positive effects on consumers. Investments in the planting and care of trees represent long term commitments of scarce dollars; improper plantings will increase costs and reduce benefits. Adequate resources for both planning and management of urban green is necessary if cities wish to optimize the values and benefits of the urban forest.
Trees Mean Business
Trees appear to influence how much people are willing to pay for goods. In recent research performed by Kathy Wolf, survey participants consistently priced goods significantly higher in landscaped districts. Prices were, on average, about 12% higher for products in the landscaped district compared to the no‑tree district. This was also true for low-price, "impulse‑buy" convenience goods, such as lunch sandwiches or flower bouquets as well as bigger ticket items such as sports shoes or new glasses. Given the low profit margins of most retail businesses, trees appear to provide a significant amenity margin.
Trees are Good Business
Healthy and well-maintained trees send positive messages about the appeal of a district, the quality of products there and what customer service a shopper can expect. They’re an important component of any program to attract shoppers and visitors. Revitalizing districts must address urgent needs of security, sanitation, parking and marketing. Attention to trees is a necessary part of any improvements program. The positive environment created by trees may actually ease some of the other issues. American Forests, a national tree non‑profit organization, suggests a goal of 15 percent tree canopy cover in business districts, while most retail environments in the U.S. have 5 percent or less.
Trees can make our local communities more attractive places for business and encourage consumers to spend more money. Kathleen L. Wolf, Ph.D., a Research Assistant Professor from the University of Washington. Dr. Wolf has researched the economic advantages that trees provide beyond their commonly accepted energy and environmental benefits. Please link here to find out more about Dr. Wolfs research and the economic value of trees.