Environment-friendly products are gaining prominence among Indians, says a global survey.
When it comes to products made from natural materials, Indians don’t mind shelling out a premium.
In fact, among consumers worldwide, more Indians seem ready to pay more for eco-friendly products. That is 57% Indians, as compared with 40% Brazilians and 32% Germans (see table).
A global survey by Underwriters Laboratories, called ‘The Product Mindset 2013’, was conducted among a sample size of 1, 528 Indian consumers.
Now in its third year, the survey seeks to better identify the concerns and priorities of consumers in India, USA, Germany, Brazil, in order to gain insight into consumers’ decision-making process.
The survey reveals that factors like eco-friendly manufacturing, health impact and ethical sourcing are growing in relevance among consumers in India.
Suresh Sugavanam, MD, Underwriters Laboratories South Asia, says Indian consumers are driving manufacturers towards producing safer and more eco-friendly products.
Banana fibre mats
In Bangalore, the eco-friendly concept has been around for a while now, with quite a few organisations making and selling various products from river grass, bamboo etc.
SM Hebbal, managing director of Gramya, based in Rajajinagar, which trains rural women in Chitradurga to craft out products from natural materials, says the demand is high, “both from corporates and individuals.”
Gramya sells products like table mats, window blinds, handbags, cushion covers, table lamps etc crafted out from river grass, khus grass, hibiscus fibre, banana fibre, and jute.
“Eco-friendly products are a big hit for corporate gifting.Many individuals buy products like handbags, mats for their regular use,” says Hebbal.
Consumers in Bangalore are also willing to pay upwards of Rs 1,000-3,000 for eco-friendly products.
Ifthikhar Javed, founder of HAL-based startup myEcoDay.com, says several consumers buy the solar chargers that cost Rs 3,500, or solar garden lights that come for Rs 1, 300.
“Since we give a warranty, people are ready to shell out even over a thousand. In a month, we see anywhere from 50-150 people making transactions,” says Javed.
Analytics professional Saumya Bharadwaj often buys eco-friendly lamps, mats and torches, “sometimes for personal use, while often for gifting.” She says the price of eco-friendly products is slightly on the higher side, “but it gives satisfaction of using natural products rather than those made from synthetic materials.”
Survey findings
Factors like eco-friendly manufacturing, health impact and ethical sourcing are growing in relevance among consumers in India
Products like table mats, window blinds, handbags, cushion covers, etc crafted out from river grass, khus grass, hibiscus fibre, banana fibre, and jute are of great demand in city
Consumers in India are willing to pay upwards of Rs 1,000-Rs 3,000 for eco-friendly products
Solar chargers, solar garden lights come with a warranty, therefore attracting more customers
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