Consumer demand for sustainable products unmet: report
Singaporean consumers want to make greener choices.
A majority of Singaporean consumers care about the environment but claim they lack options to make greener choices, according to a recent study.
Consulting firm Accenture and the World Wildlife Fund released the results of their October 2020 study, surveying 500 Singaporeans online on their purchasing decisions.
"There is an opportunity for different stakeholders — businesses, independent organisations and the Government — to collaborate and adopt common benchmarks and standards for sustainability claims to empower consumers to make clear and informed choices. We found that businesses are increasingly recognising their role in the climate equation and are taking steps to reduce their environmental footprint, which includes tapping on ecosystem partners to co-develop commercially viable supply solutions," Accenture managing director for growth markets Sonia Gupta said in a statement.
Approximately 80% of Singaporeans claim that they care about the environment, the study found.
Awareness was a major bottleneck cited by consumers who want to make more environmentally conscious purchases, with 75% of respondents worrying about the lack of avenues and options to behave more sustainably.
On trust and transparency, 54% of respondents look to the government for information, 50% look to the news, and 44% look to the logos, symbols and labels in the products that they consume. However, 30% find sustainability claims of businesses confusing, whilst 23% do not trust said claims.
On choices of sustainable products, 50% of respondents say there isn't enough variety in the market, whilst 56% find that sustainable alternatives have "poor value".