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Rice 89% price increase, wheat 75% price increase, Maize 90% in 2030
In latest PwC survey says 74% of Indian worried about their personal finance. 63% to cut back non-essential spending.
Read some key take aways.
45% of consumers buy certain products when on offer/promotion
44% are looking to retailers offering better value
38% are using comparison sites to find cheaper alternatives
36% are buying in bulk to save cost
33% are buying retailers’ personal brands for better savings
Half of Indian consumers (50%) experience rising prices when shopping in-store
Supply chain issues dominate with larger queues and busier store locations (35%)
Product availability (28%) is also impacting consumer behaviour
More than 88% are willing to pay higher for a product that is produced/sourced locally, or made from recycled, sustainable, or eco-friendly materials (87%), or produced by a company with a reputation for ethical practices (87%).
So why prices are raising ? One dominate reason is global warming.
Due to raise in temperature we are witnessing dramatic change in monsoon which is affecting steady supply chain of our basic necessity everyday items.
By 2030 out of 10 major crops will see significant reduction or stagnant growth. Rise(80% price increase), wheat (75% price increase) and maize (90% increase) will be top contributors.
So let's take oath to fight this together. This is our planet and we need to step up for this. Let's do food, and water waste minimum. Turn off lights when not in use. Unplug or switch off switch off electric equipment such as TV, RO when not in use. If you can have financial capacity to harness solar or green renewable energy let's install them and make us all proud.
A small contribution will make a big difference.
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