Megatrends in India

October 2024

This Megatrends report highlights long-term trends resulting from shifts in consumer values and behaviour. It provides a summary of each of Euromonitor International’s 10 focus megatrends and insights as to how each trend has manifested in India.

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This report comes in PPT.

Overview:

Consumer Lifestyle reports provide detailed snapshorts of the behaviours, attitudes and spending patterns of consumers in 40 countries. 

The Lifestyles reports offer valuable statistics and insights into key consumer traits and values, linking behaviour trends with purchase and consumption habits. Using lifestyles survey data, these reports quantify behaviours, preferences and motivations both now and in the future across specific consumer-related topics relating to how consumers live, shop, work and play in 40 markets. Analysis is also included on how Euromonitor’s 8 focus megatrends, the longer-term shifts in consumer attitudes and behaviour, are playing out in each of the 40 countries. Consumer lifestyles are constantly shifting. Understanding behavioural shifts is vital for businesses to stay competitive and adapt to in order to capitalise on new opportunities.

The Consumer Lifestyle in India report includes:

Lifestyles survey data and analysis on consumer values, behaviour and future expectations on topics such as life priorities, home and work life, ethical and health priorities and eating, leisure and shopping habits and use of technology. Consumer Megatrends covered are: Connected Consumers Ethical Living Experience More Healthy Living Middle Class Retreat Premiumisation Shifting Market Frontiers Shopping Reinvented

The Consumer Lifestyle in India report answers:

  • How is the consumer mindset in India changing? In India, what are consumer attitudes towards “green” and sustainable products?
  • What values influence consumers in India purchase decisions?
  • Where and how do consumers shop in India?
  • What health-related activities do consumers in India participate in?
  • What megatrends should I focus on in India (and why)?
  • How do I prioritize my investment? I operate in country x, which are the most important megatrends in that country?
  • My product chimes with the Healthy Living trend, what consumer behaviours do I need to consider for innovation planning?
Scope
Businesses harness megatrends to renovate, innovate and disrupt
The drivers shaping consumer behaviour
Megatrends framework
Consumers will prioritise digital solutions and innovative shopping journey
Convenience
Flipkart launches ultra-fast delivery service
Shoppers favour time-saving products and services
Digitally-savvy consumers take a growing interest in smart home technology
In-store shoppers are attracted by the possibility of better warranties
Flexibility to order anytime, anywhere is most appealing to millennials in online shopping
Indians seek more convenient alternatives to home cooking
Digital living
BoAt shakes up wearables with affordable smart ring
Indians exceed their global peers in all areas of tech use
Consumers become more aware of the need to protect their data
Millennials are the least averse to sharing data, but prefer anonymity
Indians have deeper trust in personal recommendations than in brand messages
Consumers expect more face-to-face interactions in future
Diversity and inclusion
Vi aims to combat loneliness with message of inclusivity and togetherness
Indians generally more focused on community than their counterparts around the world are
Millennials are most supportive of political and social issues
Most people feel a sense of belonging
Brand trust is crucial to Indian shoppers
Experience more
Instagram introduces new service in India to aid aspiring content creators
Indians have a strong sense of connection, both in-person or online
Consumers favour family holidays
Shoppers are attracted to innovative in-store experiences
Personalisation
Samsung launches new range of AI-enabled, customisable refrigerators
Digitally-savvy Indians are excited by virtual experiences
Eagerness for self-expression drives demand for personalisation
Premiumisation
Indian skin care brand Hyphen focuses on natural and science-backed ingredients
Innovation focuses on convenience and uniqueness
Millennials are most eager to engage with brands to influence product innovation
Health claims are the main draw for food shoppers
Pursuit of value
Flyrobe empowers independent fashion rental stores through partnership scheme
Shoppers embrace the sharing economy
Consumer confidence is hit by rising living costs
Repurposing becomes more prevalent
Indians will continue to spend, but more frugally
Shopper reinvented
Gen Z-focused fast fashion app NewMe set to expand its physical store network
Celebrity endorsements are considered trustworthy
Shoppers enjoy the omnichannel experience
Social commerce takes off in India
Millennials are the most eager to engage with brands online
Sustainable living
Coca-Cola partners with Reliance Retail to launch plastics recycling scheme in India
Conscious consumerism gains traction
Ethical credentials are being scrutinised by consumers
Indians are becoming more aware of the need for waste management
Consumers are not afraid to air their views online
Shoppers most support packaging that is recyclable or compostable
Wellness
Fast&Up and NOTO launch hydrating ice lollies to combat the effects of extreme heat
Mindfulness activities are seen as crucial to mental wellbeing
Indians take a keen interest in keeping fit
Consumers remain alert to issues of personal safety
Leverage the power of megatrends to shape your strategy today
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