Why our spending habits need to change for a better future

Covid-19 has changed the way many of us live and shop. A survey by Shopify reveals that 88 per cent of Indians said the pandemic changed their purchasing preferences.

While going online and opting for cashless payments have been major shifts, many Indians are going green and local, aiming for a sustainable future. Young consumers (83 per cent) in the 18-34 age group prefer to shop for sustainable products, while that number rises to 93 per cent in the middle-aged bracket. And 83 per cent of Indians seek out local businesses to support. Conscious consumerism, whether for travel or what you buy, is the need of the hour.
Brand consultant Harish Bijoor says, “The pandemic has put a pause moment in our lives; thankfully it’s not a full stop. But it has made us relook at the way we have been doing things. There has been overconsumption, and ridiculous selling. We need to get more sustainable and do a resource audit. Consumers need to ask questions about where and how their product is made, what was transportation like, how much water was used. We need to consume, it creates jobs. But we need to do so responsibly.”


Awareness is key
The first step is educating yourself on what you’re buying. “People have started becoming more aware of the ingredients that go into our food and products. We are concerned about the impact our purchases have on the environment. People are seeking out brands that give sustainable product options,” says Roopa Harihara from PureCult, an eco-friendly furniture brand. When it comes to how consumers can adopt sustainable practices, Manish Chowdhary, co-founder, WOW Skin Science, says it’s relatively simple. “Pick up products that are closer to nature, have organic ingredients and high concentration of naturebased actives. Be conscious of the packing material and check how eco-friendly these are — reduce wastage.”

Many brands have changed their product lines to increase sustainability and reduce their carbon footprint. This does come at a cost, but we need to look at the future for a payout. “Consumers still need to develop that thought process. The change can prevail if both brands and people support each other,” says Sundeep Chugh, MD, Benetton India.

Vocal for local
When it comes to travel, especially with restrictions still in place, many Indians are going local. Ritu Mehrotra, regional manager, South Asia at Booking. com, says, “Domestic travel is rising — it remains easier, safer and more sustainable. Many Indian travellers plan to explore a new destination within their home country.” As Chugh says, “There is no bigger benefit than saving the planet. Being eco-friendly shouldn’t be considered as a choice, but the need of the hour.”