Brands need to lower prices and behave more sustainably to win over APAC consumers
Author: Danielle Long
The research revealed that while 98% of people in APAC want to live a sustainable life, the rising cost of living is preventing 67% of people from acting on their good intentions. Two-thirds (66%) of APAC shoppers believe products that are 'better for the environment and society' are more expensive. Only 40% actively seek sustainable brands and products as household budgets tighten. "Brands must deliver on price to avoid sustainability being a luxury for the wealthy in our region," said Trezelene Chan, head of sustainability for Kantar in APAC. "While there will always be a premium segment, brands must start mainstreaming and collaborating across the entire value-chain to drive economies of scale. By offering a sustainable product with a price point that more people can afford will drive mass market adoption and help brands grow their value now and in the future." The study also revealed greenwashing remains a significant obstacle, with 84% of consumers claiming to have seen misleading information about sustainable actions taken by companies. More than half (59%) of APAC consumers believe brands are involved in environmental and social issues purely for commercial gains.