Population expansion, a large youth cohort, increasing life expectancy and a significant urban/rural divide shape India’s complex consumer landscape. A growing middle class is fuelling demand for premium products, while a significant portion of the population grapples with various economic challenges, prioritising affordability and value. Going forward, the influence of Generation Z on consumer preferences will solidify. Meanwhile, families with children will remain the largest household type.
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Overview:
Consumer Profiles reports provide key insights into the country's consumer landscape and uncover related business opportunities in 40 countries.
The Consumer Profiles offer valuable statistics and insights into key consumer indicators, linking household size, age, income, and spending patterns to behavioral trends and consumption habits. Utilizing a wide range of socioeconomic data, these reports quantify behaviors, preferences, and motivations both presently and forecasted across 40 markets. Analysis also encompasses Euromonitor’s lifestyles survey results, alongside the examination of longer-term shifts in consumer attitudes and behavior, analyzing their impact within each of the 40 countries. Consumer profiles are constantly changing, influenced by both socioeconomic factors and behavioral changes. Understanding these shifts is imperative for businesses to maintain competitiveness and adapt in order to capitalize on emerging opportunities.
The Consumer Profiles in India report includes:
A high-level analysis of socioeconomic data, including insights on demographics, income and expenditure, households, and consumer lifestyles backed by both in-house statistics and survey data. It also provides a concise compilation of socioeconomic data, offering a snapshot of the consumer landscape today (2022) and in the future (2040). The report is also illustrated with relevant and actionable case studies
The Consumer Profiles in India report answers:
- How consumers in India are changing?
- What are key changes in India population, society and generational structure and how it is affecting businesses?
- What is the household structure in India and how it is changing consumer landscape?
- What are key income groups in India? What is the outlook for the future?
- Where consumers are spending the money in India?
- How is the consumer mindset in India changing?
- In India, what are consumer attitudes towards “green” and sustainable products?
- Where and how do consumers shop in India?
Scope
Key findings
Key drivers affecting consumers in India in 2023
How developments today shape the consumers of tomorrow
Today 2023: The majority of India’s population is under the age of 30 years
Young working-age consumers are facing major economic challenges in India
Indian women are disproportionately affected by obesity
Tomorrow 2040: Even though ageing will accelerate, population composition will stay young
Gen Z to continue to lead, while Gen Alpha’s impact grows
Indian cities to expand, but rural population will still exceed urban in 2040
Opportunities for growth
Case study: New partnerships formed for digital upskilling of Indian youth
Today 2023: Indian households are larger than THE global and regional averages
Changing lifestyles reshape household structures
Housing market continues to develop, but lack of basic necessities persists
Tomorrow 2040: Families with children to remain the dominant household type in India
Senior males are expected to lead household decision-making
Digitalisation to increase significantly in India, presenting major business opportunities
Opportunities for growth
Case study: Major telecom provider to introduce new feature phone for frugal consumers
Today 2023: The lowest income class E dominates social class composition in India
Food prices increase at the fastest rate over 2023
Older generations feel more financially secure and plan to increase spending on health
Tomorrow 2040: Rural/urban income gap is set to decrease in India
Incomes to rise, but faster for men than for women
Consumer spending set to increase rapidly, with food dominating
Opportunities for growth
Case study: Restaurant chain start-up expands its presence in the Delhi NCR region
Key findings: Consumer survey
Value for money is more important for older generations
Both well-known and niche brands can find a market in India
Many Indian respondents are trying to have a positive impact on the environment
Millennials are saving more than other generations
High salary and job security are the top work priorities for Indians
Opportunities for growth
Case study: International brands are looking to expand their presence in India
Key takeaways
Buy Consumer Profiles reports to:
Gain a thorough knowledge of shifting consumer landscape and attitudes s and fill in information gaps to inform product/service development, market positioning and channel strategy.
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