Sustainable consumption refers to the use of goods and services that minimize environmental impact while meeting societal needs. It’s crucial for addressing pressing global challenges like climate change, resource depletion, and pollution.
Whereas, ethical consumption entails making purchasing decisions that consider the social, environmental, and ethical implications of products and services. For a product to qualify as ethical, the production process should not have harmed any animals, provided fair wages to the workers and complied with the fair trade practices.
Youth ki Awaaz and Oxfam conducted a survey 'ethical consumption' in 2020 across young India to understand how people feel about ethical and sustainable consumption and as a consumer how likely they are to choose ethical and sustainable products. A total of 8032 respondents took the survey. The survey was primarily conducted to identify the public’s attitude towards ethical consumption and to map their understanding, preference, attitude and purchasing decision towards consuming ethically/responsibly.
Majority of India’s youth are willing to support ethical products
The survey uncovered a promising trend where a staggering 82.98% of respondents, totaling 6665 out of 8032, expressed a genuine interest in supporting products manufactured responsibly. This overwhelming enthusiasm reflects a growing consciousness among consumers towards ethical consumption which is a beacon of hope for sustainable practices.
However, beneath this positive sentiment lies a significant challenge. Despite the widespread willingness to embrace ethically responsible products, only one-third of respondents are willing to pay the extra cost associated with these purchases. This discrepancy underscores a crucial barrier which is affordability. Affordability emerges as a central concern, with 36.37% of respondents expressing reservations due to perceived high costs. This suggests that while consumers are eager to align their purchases with their values, the financial burden associated with ethical products poses a formidable obstacle.
Therefore, while there is a notable willingness among respondents to purchase ethical products, the discrepancy arises in their readiness to pay a premium price.
What could be the way ahead
As per the above findings, we can conclude that more people will become ethical consumers if responsible products are more affordable to the public.
On making ethical products affordable, A recent Walmart model suggested a few methods to drop the pricing of sustainable products:
- Low-cost measures such as switching to renewable energy in-store or during transport can help consumers make greener choices without paying more.
- Sustainable or zero-waste packaging options could also let shoppers embrace activism while saving money.
A report titled “Scaling up the circular economy” by McKinsey & Company emphasizes scaling up production to reduce consumer costs. The report says if demand for sustainable products increases, manufacturers can invest in larger-scale production, leading to lower per-unit costs.
A report by Nielsen titled “The Sustainability Imperative” mentions the importance of educating consumers on the long-term benefits of buying sustainable products by highlighting cost savings over time, environmental benefits, and health impacts; consumers may be more willing to invest in sustainable options despite potentially higher upfront costs.
The survey on ethical consumption reveals a promising trend, with most respondents expressing a willingness to support and purchase ethically produced products, yet pricing remains a barrier. Strategies such as cost-effective measures, scaling up production, and consumer education offer pathways to making sustainable products more accessible, paving the way for a greener future. For more such youth-led surveys, follow Youth Ki Awaaz.