The perception that green makes business sense is gaining ground even in India. Energy-saving lights, organic foods, recycled bags and accessories, eco-tourism and environment-friendly residential complexes — consumers are being nudged into buying a diverse array of products that are good for them and for the environment.
Companies are being helped along by two factors. First: rising levels of disposable income in urban centres. And second, a greater understanding of the Indian green consumer. It is clear to most that the green Indian takes time to evolve into the green consumer. Transition depends on the three Cs: convenience, cost and concern for the environment. Companies are drawing up innovative marketing and awareness strategies around these major influencers to hasten the makeover.
...The truth is that cost and convenience do play a large role in the decision-making process. But concern does, too. In a survey by A.C. Nielsen on environmental concerns, 42 per cent of Indian respondents said that they actively try to buy organic products as compared to 26 per cent in Europe, 28 per cent in North America and 47 per cent in Latin America.
Arun Natarajan is the Founder & CEO of Venture Intelligence, the leading provider of information and networking services to the private equity and venture capital ecosystem in India. View free samples of Venture Intelligence newsletters and reports.