Kia Motor has unveiled South Korea’s first electric vehicle, in line with the push seen across the globe towards sustainable alternatives.
Kia is set to manufacture 2,500 units of the new Kia Ray EV — a zero-emissions city car.
And it is not alone — during this festive season, retailers appear to be tapping into consumer demand for eco products.
In a recent study by Frost and Sullivan, 86 per cent of respondents surveyed in Singapore cited “energy labels” on electrical goods as a primary guide when selecting a home appliance.
While such gadgets may yield energy savings, eco-retail, fashion, food and beverage are also on the rise, even if slowly.
Spire Research chief executive officer Leon Perera said: “Well, I don’t think that the niche of consumers that are very responsive to this kind of ethical and eco messages is ever going to become the majority in the near future and the foreseeable future.
“It will take a long time - but it will remain a strong niche and we do see it growing.
“There will be a minority of these brands such as Body Shops that will continue to focus strongly in this segment. They will continue to grow strongly and it will attract a handful of other players who come in to compete for attention in this space.
“And at the same time, for the mainstream product vendors, they may carry a certain minority of products on their shelves that are catered to these consumers that have a strong ethical or green message.
“But I think for product vendors, it is difficult for them to release a line of products that have an ethical positioning because that implies that the majority of their products are not ethical.
“I think for product vendors, they are more likely going to go down the path of just increasing the level of certification and compliance with green standards for the majority of their products but they will do so with the awareness that consumers are not going to pick that as the decisive purchasing criteria.”
One such company looking to tap into green growth is Greenviron.
It has had a retail space in Singapore since 2009, selling a variety of products from solar panels to staple-less staplers.
Greenviron CEO Simon Chee said: “Most of our clients, they have been to our shop before, and during this juncture, they want to buy stuff for their children.
“The eco toys are selling better because parents want to give kids a choice - to understand and to cultivate them a green habit and a green culture as well.”
Whether it’s items such as t-shirts which are made of recycled plastic bottles, or kitchenware made of recycled glass, some eco retailers said they are enjoying a 50 per cent increase in business this festive season.
Greenviron has already started supplying products to a major retailer in Singapore to bring such products to the masses.
It said it will concentrate on its current markets of Singapore, Malaysia and Hong Kong, but is also open to new regional development.
