Indians prioritise saving money over making sustainable decisions
According to a survey performed by analytics and brand consultancy firm Kantar, Indian consumers are interested in brands that are committed to social and environmental issues, but they would rather save money than make sustainable decisions
Kantar interviewed 10,000 customers from nine countries for its Asia Sustainability Foundational Study, including 1,000 from India. Consumers in Delhi, Mumbai, Bengaluru, Chennai, Kolkata, and Hyderabad were surveyed. According to the survey, Indian customers prefer to support companies that are dedicated to doing good, with 48% actively pursuing sustainable products. However, 77 percent of respondents said that while they were willing to support companies that were attempting to do good, their intentions did not translate into action because the vast majority claimed they would rather save money in real-world actions.
According to the report, the 'value-action gap' remains large for Indian consumers with good intentions. For example, 65 percent of those polled admitted to tossing recyclable material into the trash. Cost: 84 percent of study participants said they prioritised saving money over saving the planet when making a purchase; comfort: 76 percent said they don't have enough information to choose sustainable options; and convenience: 72 percent said they tend to forget about sustainability when making a purchase.
"Consumers are seeking for brands that have a social and environmental mission, therefore purpose is critical from a marketing aspect, and sustainability may drive customer choice. While businesses in India are moving in the right direction, it is still not popular. Sustainable practises by brands are much stronger in developed markets," said Paru Minocha, Kantar's head of sustainable transformation practise in India.
Minocha mentioned companies like MAC Cosmetics, which offers a complimentary lipstick to customers who return six empties of its products. Similarly, Hindustan Unilever is testing a 'Smart Fill' pilot at Reliance Smart Acme Mall in Mumbai, where customers may get a refill of Surf Excel and Comfort using empty bottles or buy a Smart Fill bottle. If you use your own bottle, you can save 30 percent on the MRP, and if you buy the Smart Fill bottle, you can save 15 percent.
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