Call it natural, ethical or green to sell it in India
Environment-consciousness and eco-friendliness of brands were ranked as the highest parameter influencing shoppers (67%), followed by natural and organic ingredients (66% and 65%, respectively).
Environment-consciousness and eco-friendliness of brands were ranked as the highest parameter influencing shoppers (67%), followed by natural and organic ingredients (66% and 65%, respectively), the International Lifestyles Survey 2019 by Euromonitor showed. The report said 62% of the respondents surveyed said recyclability influenced their purchases, while 59% said supporting a charitable cause was a key factor while shopping.
“In 2018, our sustainable living brands grew 69% faster than the rest of our business. That’s up from 46% in 2017,” a spokesperson for consumer goods giant Hindustan Unilever said. “Increasingly, consumers are looking to buy brands that offer great quality at the right price and also fit with their values. Brands that address consumer needs and aspirations and have a purpose at their heart are delivering stronger and faster growth.” Wider access to the internet, the desire for better grooming and social consciousness are increasingly shaping consumer choices in the market.
“Trends in packaged food and beverages tend to set precedence for other FMCG categories and we can already see the ethical living trend influencing purchases in the beauty and personal care industry,” Amulya Pandit, a senior research analyst at Euromonitor International, said in the report. “It is important for companies and brands to recognise these megatrends and set up short and longterm strategies to tackle these shifts in consumer demand.” Over the past few years, almost all consumer companies have added 'natural' products to their portfolios to bring in consumers in an otherwise slowing market. HUL launched products under its natural Ayush franchise three years ago.
“Discerning consumers are increasingly seeking brands that make a large contribution to societal value creation,” said a spokesperson for ITC, the hotels to consumer goods conglomerate. “We are confident these initiatives will evoke larger franchise from discerning consumers.” Another recent report by Euromonitor – Megatrends Shaping the Soft Drinks Market in India – said ethical living is a crucial trend currently influencing consumer preferences and driving new product development in India. “Mounting concerns about single-use plastic in India will fuel the ethical living trend in soft drinks as consumers become more conscious about their purchases,” it said.