As noted above, some APAC countries are offering subsidies or rebates to consumers investing in energy-efficient products such as refrigerators, washing machines and air conditioning units.
This is part of the region’s response to the global climate change crisis, which poses major challenges to its environmental stability, economic growth, and human development. APAC includes 13 of the world’s countries that are most vulnerable to the impacts of climate change. Tackling climate change and reducing carbon emissions is therefore of massive importance to consumers and governments alike.
For the T&D sector, promoting sales of energy-efficient products, in tandem with eco-friendly brand values and visible ESG policies such as reuse and recycling, is a definite growth area — and a useful entry route for new brands.
While some consumers simply want to save money, there is an expanding segment of APAC consumers who are genuinely influenced by ‘green’ brand values. However, there is also a ‘say-do’ barrier which T&D entrants must overcome if they are to get consumers to buy their products and not just pay lip service to their values. That means combining sustainability with some of the other consumer trends we have looked at, such as multi-functionality, design, and quality.