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Strategy Briefing

Mega to Micro: Trends Shaping India’s Consumers

Jun 2015

US$1,325

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About This Report

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

Consumer behaviour in India is changing rapidly as economic growth trickles down to a broader audience and fuels the emergence of a more confident, expectant consumer. What sets India apart is the sheer scale of its growing consumer base, which spans such a wide range of purchasing power and yet is embracing its new identity all along the spectrum. In this briefing, we highlight some key consumer traits and look at the types of categories set to perform well amid this optimism.

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Overview

Why buy this report?

Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

India’s Economic growth, set to continue

India’s large working age population, export competitiveness and high government spending will help it post average annual real GDP growth of as much as 6% between 2015 and 2030.

Benefiting the middle class

The number of middle-class households will swell from 74 million in 2014 to 90 million in 2030 - more than five times the expected number of Brazil’s middle class households in 2030.

Consumers moving beyond basic necessities

Rising incomes drive an appetite for discretionary spending. The average Indian family is altering its spending priorities to the benefit of many discretionary goods and services including hotels and catering, leisure and transport.

Opportunities to target consumers across the income spectrum

This spending capacity is improving across all socio-economic classes. Opportunities exist for manufacturers to target consumers with innovation and appropriate price points across a very wide spectrum of society. On the flip side, widening income inequality fragments and complicates the marketplace.

Tough business environment remains a factor

While India’s impressive growth potential makes it a highly attractive market for businesses, its poor regulatory quality, pervasive corruption, undeveloped infrastructure and complex bureaucratic procedures significantly increase the cost of doing business here.

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Introduction

Scope

Key findings

Socio-Economic Backdrop

India now world's third largest economy in PPP terms

Working population makes up nearly two-thirds of India’s population

Increasing consumer appetite for spending and saving

16 million more middle-class households by 2030

Share of wallet shifts towards discretionary spending

Consumers increasing spending on lifestyle products and services

Understanding Indian Consumer

So who are these consumers?

Consumers contributing the most to discretionary spending

Packaged food appeals to time-starved consumers

Adapting to local tastes remains key in food and beverages

Changing lifestyles taking their toll…

…and driving strong growth in health and wellness products

A closer look at “Undaunted Strivers”

Changing food preferences

The emergence of the young and affluent

A closer look at “Restless Spenders”

Restless spenders are image-conscious

Restless spenders also drive growth of wellness products

All that glitters: The luxury wave

The Indian consumer is not just about spending…

…hence, Secure Traditionalists remain the key consumer segment

Gold and real estate remain top priorities among savers

Urbanisation and Connectivity

Over 1/3 rd of India’s richest households will reside in 41 major cities

The rise of the “mega region”

Urban Indians are now travelling more

Globetrotting Indians drive demand for new products and concepts

Yet India’s “soul” remains in its villages

Focus on traditional channels key to success in rural markets

Internet penetration increasing digital marketing across India

Young consumers plan to further increase tech spending

Consumers prefer to gather information before buying in-store

The rapid rise of vehicle ownership leading to increasing mobility

Limits to Growth

Despite reforms, business environment remains difficult

Tackling resource crunch a major hurdle

Marketplace is set to fragment further

Report Definitions

Data parameters and report definitions

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Megatrends

Strategy Briefing

Mega to Micro: Trends Shaping India’s Consumers

New Report Guarantee

About This Report

New Report Guarantee

Overview

Why buy this report?

India’s Economic growth, set to continue

Benefiting the middle class

Consumers moving beyond basic necessities

Opportunities to target consumers across the income spectrum

Tough business environment remains a factor

Want to find out more about this report?

Table of Contents

Introduction

Scope

Key findings

Socio-Economic Backdrop

India now world's third largest economy in PPP terms

Working population makes up nearly two-thirds of India’s population

Increasing consumer appetite for spending and saving

16 million more middle-class households by 2030

Share of wallet shifts towards discretionary spending

Consumers increasing spending on lifestyle products and services

Understanding Indian Consumer

So who are these consumers?

Consumers contributing the most to discretionary spending

Packaged food appeals to time-starved consumers

Adapting to local tastes remains key in food and beverages

Changing lifestyles taking their toll…

…and driving strong growth in health and wellness products

A closer look at “Undaunted Strivers”

Changing food preferences

The emergence of the young and affluent

A closer look at “Restless Spenders”

Restless spenders are image-conscious

Restless spenders also drive growth of wellness products

All that glitters: The luxury wave

The Indian consumer is not just about spending…

…hence, Secure Traditionalists remain the key consumer segment

Gold and real estate remain top priorities among savers

Urbanisation and Connectivity

Over 1/3 rd of India’s richest households will reside in 41 major cities

The rise of the “mega region”

Urban Indians are now travelling more

Globetrotting Indians drive demand for new products and concepts

Yet India’s “soul” remains in its villages

Focus on traditional channels key to success in rural markets

Internet penetration increasing digital marketing across India

Young consumers plan to further increase tech spending

Consumers prefer to gather information before buying in-store

The rapid rise of vehicle ownership leading to increasing mobility

Limits to Growth

Despite reforms, business environment remains difficult

Tackling resource crunch a major hurdle

Marketplace is set to fragment further

Report Definitions

Data parameters and report definitions

Why buy this report?

Want to find out more about this report?

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Economies and Consumers

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Complete Catalogue

Global Survey Reports

Economies and Consumers