The Characteristics of Indian consumers has been changing in the resent years:
India has the youngest population profile among the numerically significant countries - there are a lot of young people, in different income segments and locations, who are influencing their parents' spending, or spending their own money. On the other hand, many farmers have unquestionably grown beyond “rural” in the broadly understood sense. Are we even comprehending, let alone capitalising, on the power of the consumer of tomorrow as well as some consumers of today, who remain an after-thought for many marketers?
The Indian consumption patterns are slowly converging with the impact of globalisation. The Indian consumer is now spending more on consumer durables, apparel, entertainment, vacations and lifestyle and other related activities. Entertainment, clothing and restaurant dining are categories that have been witnessing a maximum rise in consumer spending since 2002. The rate of growth of spending on discretionary items (unlike basic necessities like food) has been growing at an average of 9 per cent per year over the past five years. A nation of savers, India, has now altered into a nation of spenders.
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