11 May 2023, Mumbai
After the pandemic, at least 68 percent of Indians want to maintain healthy eating and living practices. More information and analysis should be provided regarding the availability of clean and green products in India.
In collaboration with Kadence International, OneGreen, one of Asia's largest online marketplaces for conscious, healthy, clean, and sustainable products, undertook a poll to gauge consumer attitudes towards conscious, eco-friendly products and healthy living.
Since women are the primary decision-makers and are responsible for most lifestyle changes in Indian households, their influence on purchasing behavior has been discovered to be significant.
Green is the colour to go
Going green is the new black, and the statistics show how Indian customers move in that direction. While 6 out of 10 respondents claimed to base their purchasing decisions on their environmental impact, 8 out of 10 Indians reported a change in their purchasing behavior centered on their health and well-being.
Even in price-sensitive Tier I and II cities, almost 57% of consumers are willing to spend more on authentic green and healthy items.
In 2023, around 71 percent of respondents stated they planned to lead a greener lifestyle. According to the report, 8 out of 10 respondents now purchase high-quality goods, such as organic and secure products.
And seven out of ten survey participants purchase eco-friendly or sustainable goods out of concern for the environment.
Dynamic landscape
The Indian retail industry is undergoing a significant transformation from traditional structures to modern organized retailing, similar to global trends. Despite the slow start in organized retailing, India is predicted to lead the industry and secure the second position shortly.
Factors such as an increasing number of working women, rising disposable incomes, cheap credit availability, price differentiation, similar product quality, and the use of media for product positioning and sales have driven the dynamic Indian organized retail landscape.
Changing lifestyle
To leverage the benefits of this exponentially growing market, it is essential to study consumer behavior.
However, Indian literature is deficient in this regard. Retail offerings cater to changing lifestyles, fashion, and ever-changing consumer behavior, particularly in the apparel industry.
Understanding the factors that influence consumer buying behavior in the apparel segment of the Indian retail sector is crucial.
Pandemic impact
The pandemic has accelerated the growth of e-commerce across all industries, with consumers opting for online shopping for even their daily necessities to avoid public spaces. The new-age consumer is well-informed and aware of possible limitations in product availability and delivery delays.
Consequently, they tend to buy products in bulk, preparing for future needs while seeking bulk discounts for volume purchases.
Adaptability is the key
To capitalize on this trend, fashion and apparel brands need to understand their customers better and create bundles of fashion wear that consumers are more likely to put to use today.
Brands that can offer discounts on bulk purchases will be more likely to capture this market segment. By understanding customer preferences and behavior, brands can tailor their offerings to meet the evolving needs of the Indian retail market.
Consumer choices and their importance
Consumers in India change their clothing preferences frequently. The clothing choices firmly anchored in the vastness and complexity of Indian culture are now aligning with more sophisticated and globally in-vogue styles.
More variety and market sectors exist in modern Indian clothing than ever before.
Formal, semi-formal, casual, athletic, ethnic, seasonal, leisure, party clothes, and more categories are included. This change is the result of Indian consumers' extensive exposure.
With a median age of 27 years and the largest Generation Y population in the world, Indian consumers tend to be more experimental, inclusive, and tolerant of various social structures.
The reality of the day
Since they began earning money at a younger age, they are more time-poor, financially wealthy, and more likely to spend their money on better and more aspirational things.
Their clothing consumption also reflects these cultural, psychography, and conduct changes. Over the following ten years, India's economy is gauged to grow at a CAGR of 7 to 9%, resulting in higher per capita income.
Consumers will have more to spend and be more enthusiastic about buying clothing as wallet sizes grow.
By 2023, clothing spending per person will increase from INR 3,900 in 2018 to INR 6,400. It is anticipated that by 2023, total Indian garment consumption expenditures will increase to INR 9.35 lac crores.
