Indians prioritize spending on sustainable products: Study

87 percent of Indian adults surveyed always or often purchase sustainable products

98 percent want to spend money on items that will help build low-carbon communities around the world

New Delhi: According to an American Express Trendex survey, nearly 98 percent of Indians want to spend money on items that will aid in the development of low-carbon communities around the world.

The survey further revealed that about 97 per cent of Indians would like to shop more with a company that takes action to reduce the impacts of climate change and are more likely to trust brands that work to address environmental issues.

With regard to the preference for sustainable products, the report said 92 per cent of Indian adults are willing to pay a premium for sustainable products with growing awareness of the benefits of sustainable products.

According to the report, Indians want to have an impact on the planet by prioritizing spending on sustainable products and contributing to local businesses, which is the highest amongst all the other surveyed countries.

The survey was conducted between March 8th and 13th, 2022, among a national sample of 1,998 in the US, 1,000 in Japan, Australia, India, and the UK, and 999 travellers in Mexico and Canada, who have a household income of at least $70K.

This study has an overall sample of 7,996 global adults.

Taking about the outcome of the survey, Manoj Adlakha, CEO, American Express Banking Corp India, said,“Indian customers are making conscious decisions and shifting their buying patterns by prioritising spending on sustainable products, thereby contributing to local businesses and leaving a positive impact on the planet.”

Ever since the pandemic hit the world, creating an irreversible impact on millions of people around the world, people are becoming increasingly mindful about the purchases they make and the impact that will have on generations to come, he added.

“Indian adults surveyed have become more focused on a variety of sustainability topics this past year, with air pollution accounting for 96 percent of the total, and recycling, renewable energy, and climate action accounting for 95 percent of the total,” said the survey.

In terms of categories, 96 percent of Indians intend to make more sustainable choices when buying clothes, technology, eating food, and traveling, and 86 percent have already begun shopping at second-hand or consignment retailers rather than buying new items to reduce environmental impact.

When making decisions about where to dine out, more than half the Indians surveyed consider the number of plant-based options available at a restaurant.

“Fifty seven percent of surveyed GenZ/millennial respondents are more likely to plan on purchasing sustainable products this year to help reduce their environmental impact. 72 percent of GenZ/millennial Indians surveyed were more likely to talk to their children about environmental issues, “it said.