Indian markets and consumers have been constantly fluctuating. If any person claims that he’s well aware of the Indian consumers, he lying! Understanding Indian markets and consumers is a tricky business. This is because of the increasing population, market, competition, and start-ups. It makes a marketer confused in order to select the proper segment to target with regular changes in the preferences of Indian consumers.
How did Globalization affect Consumers in India
Ever since India welcomed globalization, consumers have been riding a wave of affluence that has transformed them along both economic and cultural dimensions. Globalization has increased the incomes of consumers which in turn affected their consumption. Consumers in India have been trying to adapt to global trends.
Facts about Indian Consumers
Youth are materialistic
Youth of India are materialistic and they are not guilty about it. They beleive that money can buy happiness.
Stubborn about new products
With easy credit card, debit card and EMI offers buying new products make it more exciting.
With the bloom in It industry. The rate at which speed at which technology has been changing the purchasing power has been impulsive.
Despite the fact patriachy still persisting in this society. Womens have recently started gaining independent.
With rise in price levels and increase inconsumption people usually have a misconception about Indian’s being more frequent to Heart diseases and diabetes.
The Indian Consumption patterns are slowly converging with global norms. The Indian consumer is now spending more on consumer durables, apparel, vacation, entertainment, and lifestyle-related activities.