Consumers are preferring products that are made from sustainable materials: Report
According to a report by CBRE South Asia, more than 70 per cent of the respondents have chosen to buy environment-friendly products despite the additional cost associated with them
Hyderabad: Consumers are believed to be getting influenced by the recent trends and growing concern for the environment and started to make a positive impact through their purchasing choices.
According to a report by CBRE South Asia, more than 70 per cent of the respondents have chosen to buy environment-friendly products despite the additional cost associated with them.
In their latest report ‘Voices from India: How will people live, work and shop in the future?’, CBRE South Asia based on a survey wherein more than 20,000 people were polled globally,said Sustainable Consumerism is on the rise. Consumers are preferring products that are made from sustainable materials and have minimal impact on environment.
The older generation, early millennials (34 to 41 years), Gen X (42 to 57 years) and baby boomers (aged above 58 years) seem to have a greater belief in this idea.
About 65-70% of the respondents, especially late millennials aged between 26 to 33 years have stated to purchase more locally sourced products from smaller brands and are making an effort to minimise consumption to be both sustainable and economical, the report said.
Ram Chandnani, Managing Director, CBRE India said, “Apart from investing in omnichannel capabilities, retailers should also offer real-time inventory visibility, facilitate seamless returns/pickups and transform in-store supply chains to be more adaptive and resilient to customer needs.”
Several people are looking for methods to reduce their impact on the environment as problems like deforestation, climate change, and pollution are making headlines around the world. As a matter of fact, young respondents have recently begun to favour renting products instead of purchasing them.
