Environmental protection, social influence, health benefits, long-term cost saving, and personal values and ethics, emerged as major reasons for choosing sustainable products and practices
Image for representational purposes only (Photo Courtesy: iStock)
With increasing conversations around sustainability and growing environmental awareness, sustainable ways of life, including consumption patterns, have been gaining popularity among people.
About 62 per cent of Indians are aware of sustainability concepts such as reducing carbon emissions, choosing reusable alternatives, avoiding single-use or plastic products and conserving energy in daily activities, according to a survey report.
The survey, conducted by S P Jain Institute of Management and Research (SPJIMR) WISE Tech among 2,200 urban Indian consumers across 10 major cities, further found that a significant 84 per cent of respondents prefer sustainable products when given a choice, indicating a shift towards environmental consciousness.
Environmental protection, social influence, health benefits, long-term cost savings, and personal values and ethics, emerged as the major reasons driving this mindset.
In fact, people also assess job opportunities based on a company’s sustainability credentials. The findings suggest that 79 per cent of respondents evaluate potential employers’ sustainability efforts when considering job opportunities, and 63 per cent state that a company’s environmental and social consciousness substantially impacts their job satisfaction.
While a majority of respondents are aware of sustainability and express intent to protect the environment, the report reveals a gap between intent and action. Only 27 per cent of urban Indian consumers reported that they ‘always’ buy responsibly, while others stated that they purchase sustainable products most of the time (31 per cent), frequently (25.3 per cent), or sometimes (14 per cent).
Premium prices for sustainable products
Cost remains a major factor that often acts as a barrier to making sustainable choices. However, according to the report, some consumers are willing to pay premium prices for products linked to environmental and health benefits.
Respondents are willing to pay a premium of over 25 per cent for sustainable features in electronic devices, up to 25 per cent for personal care products, and up to 25 per cent for consumer goods, the survey findings reveal.
Where does Mumbai stand?
The sustainability sentiment varies across cities in India. The report highlights that Mumbaikars prefer tech-driven sustainability, with a particular interest in sustainable electronic devices.
In urban cities like Mumbai, Gen Z and millennials are driving the shift towards sustainability through habits such as thrift shopping, reduced plastic use, and a preference for sustainable packaging.
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
