There seems to be a huge shift from
pure products to convenience services
Indian spending pattern are evolving, with basic necessities such as food and apparel declining in relative importance and categories such as communications and health care growing rapidly. Even old players like McdDonalds had to start door to
Question: Why is the consumption not reaching
a stage where we can actually say we have 10 billion dollar companies created
in a decade's time.
Answer: At this point this country is just
entering the take-off stage, we haven’t come to the classical take-off stage
The invariably growing Indian economy is witnessing its golden age, with the fast moving consumer goods (FMCG) global companies foraying into India to harness the potential and reap the benefits of the rampantly growing economy. The FMCG in India form a significant part of the business world in India, as the heightened access to information has made the consumer more aware. It assists the consumer in comparing and asking for better products.
we have 1.2 billion people, which means we
have 1.2 billion stomachs, 1.2 billion bladders … and guess what, we have 46
other body parts and each one craves for a marketing solution.
Unlike China's heavily fragmented and poorly branded low-end consumer environment, there is already a well-developed consumer brand marketplace among India's rising poor. For Western brands chasing the luxury market, both China and India offer abundant opportunities. But when it comes to selling to the mass low-end consumer market made up of hundreds of millions of urban and rural residents, it might be a better bet to look to India, rather than China.