Kantar has released a new study that delves more into what sustainability means to Indian consumers. India Sustainability Foundational study states that Around 48% of consumers in India are active and engaged on sustainability issues. Around 77% say they are prepared to invest time and money in companies that try to do good.
Speaking about the report and findings, Paru Minocha, MD – Qualitative, Insights Division & Sustainable Transformation Practice Lead, India, Kantar said, “The reason why we are introducing the report is that we believe that the world is at an induction point, if we look around there are lot of changes we are witnessing in forms of different natural calamities. Different studies have shown that we as human beings have to make changes. Sustainability is the need of the hour, and we need to act upon it now.”
She continued, “In the last two years, the Covid-19 pandemic has changed the way we look at things and the need to accelerate a lot of changes. We have realized that things we do at home or for our families aren’t enough to keep them safe. We need to do more for a safe world and need to take care of things around us. Sustainability cannot be side-lined. It has become the way of existence, and if the companies don’t put it at the center, the consumers will find out. 6o percent of the consumers think that the companies are not doing enough.”
The sustainability consciousness among the consumers in India and globally is very high, observes Paru.
“There are brands in India which are taking the right steps towards sustainability, and it is in the nascent stage and sure to gain momentum, “she added.
While 77 percent are prepared to invest time and money to support businesses that are good, there is a huge value action gap.
Talking about the action gap, Paru said, “There are three things that hold back the consumers, Cost, Comfort, and Convenience. There may be price efficiencies we don’t find in sustainability as it has not become a mass movement and compelling proposition to sell at this moment. If the Consumers are comfortable with what they are currently using, it takes a lot of effort to come out of it and try something; you, you need a compelling reason for that.”
According to the report, 68 percent of the brands are involved in social issues just for commercial reasons. Speaking about it, Paru said, “If the brands are doing something for the name’s sake, then it is not going to work. There is always a connection between purpose and brand power. Purpose has to be meaningful, and it has to make consumers trust you, and that’s how brand power is got. When it comes to sustainability, the brands need to put in the center, and traction follows.”