Nearly all affluent Indians prefer to buy socially and ecologically sustainable products, claims the AmEx report

• According to the report, 97% of people in India are interested in items that will have a positive impact on local businesses and communities.
• 87% of the respondents said that they often purchase sustainable goods/products.
• From India, the survey consisted of only 1,000 respondents with a household income of at least $70,000 (₹ 53 lakh).

Affluent Indian consumers are increasingly making mindful purchasing decisions by opting for sustainable products. According to a recent American Express Trendex report, a whopping 97% of people in India are interested in spending money on items that will positively impact local businesses and communities, which is highest among all the other surveyed countries.

The catch is that the respondents consisted of a small set of relatively rich Indian consumers. The survey was conducted between March 8 and 13, 2022, involving 7,996 adults from several countries across the globe. The survey consisted of only 1,000 respondents from India, that too with a household income of at least $70,000 (₹ 53 lakh) and defined as adults who typically travel by air at least once a year.

The survey also revealed that 87% of the respondents said that they have mostly purchased sustainable goods/products. Furthermore, 98% of the Indian respondents want to spend on items that will contribute to building low-carbon communities, while 96% think about the impact on the environment while making purchase decisions.

What are sustainable products?

Sustainable products are those that provide socio-economic benefits while protecting public health and the environment over their whole life cycle—from the extraction of raw materials until the final disposal. Some examples of sustainable products are recycled or upcycled products, including clothes, artisanal or hand-made products, and low-carbon alternatives.

Products like wet wipes and tissues, tea bags, non-stick cookware, sanitary pads, paper coffee cups, plastic water bottles, and straws are often classified as unsustainable. Many such products are usually non-biodegradable and have negative environmental and health implications throughout their life cycle. Minimising the usage of these kinds of products in our day-to-day lives can contribute a lot towards a better tomorrow.

Indians are willing to spend more

Encouragingly, 92% of Indian adults surveyed are willing to pay a premium for sustainable products with growing awareness of the benefits of such products. As many as 94% of those Indian adults that would pay a premium further say that they would pay at least 10% more for sustainable products, while 29% are ready to pay 50% more and 23% of them even higher than 50%.

“Indian customers are making conscious decisions and shifting their buying patterns by prioritizing 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 create for generations to come,” said Manoj Adlakha, SVP and CEO at American Express Banking Corp India.

The survey revealed another interesting point that 96% of Indians surveyed said that one of their goals in 2022 is to make more sustainable choices when purchasing clothes, tech products, eating food and travelling. And 86% of them have already started shopping at second hand or consignment retailers rather than buying new items to reduce environmental impact.

Almost all (97%) of the Indian respondents say that they would be more loyal to the brands or companies that work or contribute towards the environment.

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