Buying habits of Indians indicate leaning towards environmental consciousness

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Photo source: Fripik

An image representing green energy

According to the American Express Trendex report, Indians want to make an impact on the planet by prioritizing spending on sustainable products and contributing to local businesses.

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Eighty-seven percent of Indian respondents always or frequently purchase sustainable products and 97 percent are interested in spending money on items that will have a positive impact on local businesses and communities, the highest among all other surveyed countries.

The survey further revealed that 98 per cent of Indian respondents want to spend money on things that will help create a low carbon community around the world. 97 percent think all products should be environmentally friendly while 96 percent think about the impact on the planet when deciding to buy.

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Encouragingly, 92 per cent of Indian adults surveyed are willing to pay a premium for sustainable products with a growing awareness of the benefits of sustainable products. For 43 per cent of Indian adults surveyed, a better idea of ​​product availability and product benefits is the main motivation for buying sustainable products in the future, whereas for 37 per cent it is a good price point.

Manoj Adlakha, SVP and CEO, American Express Banking Corp India, said, “Indian consumers are making conscious decisions and changing the way they buy by prioritizing spending on sustainable products that have contributed to local businesses and have had a positive impact on the planet.” Making an irreversible impact on millions of people, people are becoming increasingly aware of their purchases and the impact they will have on the next generation. “

Key Insights:

Returning to the environment: 98% of Indians surveyed said companies would make it easier to reduce their carbon footprint whereas 97% of Indians surveyed would be more loyal to a company / brand that works to solve environmental problems.

Choosing sustainable products: 92% of Indian adults surveyed are willing to pay a premium for sustainable products and 94% of Indian adults who want to pay a premium say they have to pay at least 10% more for sustainable products whereas 29% are willing to pay 50% more for sustainable products. And 23 percent of them are even more than 50 percent. In terms of categories, 96 per cent of Indians surveyed, one of their goals in 2022 is to make clothes, technology products more sustainable when shopping, eating and traveling and 86 per cent of them have already started second hand shopping or buying new items to reduce environmental impact. Invoice retailers instead. When deciding where to eat, more than half (55 percent) of Indians surveyed consider the number of plant-based options in a restaurant.

Approving Sustainable Products: About 97 percent of Indians surveyed want to shop more with a company that takes steps to mitigate the effects of climate change and is more likely to trust brands that work to address environmental issues.

Sustainability Awareness: Surveyed Indian adults last year focused on a variety of sustainable issues, with air pollution (96 per cent) and recyclable, renewable energy, and climate action (95 per cent) gaining the most interest.

GenZ / Millennials More Sustainability-Aware: 57% of surveyed GenZ / millennials respondents are more likely to plan to purchase sustainable products this year to help reduce their environmental impact. 72% of GenZ / Millennium Indians surveyed are more likely to talk to their children about environmental issues.

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