7 in 10 consumers want sustainable products
MANILA -Seven in 10 consumers are willing to make changes to tackle environmental issues, with Asian countries, including the Philippines, having the highest percentage of consumers which reflect this sentiment.
This is according to the “Sustainability Trends Report 2023” by Chinese multinational technology company Alibaba, which found that 75 percent of consumers want to live more sustainable lifestyles.
“Sustainable consumption is crucial for the environment, and in the meantime, it provides a great opportunity for businesses, as well as the digital economy as a whole, to have a long-lasting development into a sustainable future for all,” Liu Wei, lead of Alibaba Group ESG Strategy, said in a statement.
The report, which polled more than 14,000 consumers from 14 markets across Asia, Europe and the Middle East, also said the figure was even higher in emerging Asian markets, which averaged at 87 percent.
Among Asian economies, the Philippines had the highest proportion at 93 percent, followed by Indonesia with 91 percent and the United Arab Emirates with 90 percent.
These numbers are in stark contrast to those in developed Asian markets and in Europe, where it was at 66 percent.
Overall, 48 percent of respondents said that lack of information was the main barrier in making sustainable purchases, while 45 percent pointed to the high prices of sustainable products as an issue.
Further, 53 percent of the surveyed consumers said they would only make sustainable choices if they were convenient. INQ
