Growing GDP, rapid urbanization, an explosion of choices and brands, mushrooming of shopping destinations and rise of e-commerce are undoubtedly some of the mega changes that we have witnessed, benefitted from and responded to.
The Indian fashion industry, too, has been a beneficiary of the growing disposable income and changing lifestyle of the Indian consumer. The consumer base of the fashion industry is not restricted to the stereotypical young, urbane and affluent class anymore; it has expanded beyond geographic boundaries age groups and income classes.
Taking about the changing Indian consumer, Hemant Mehta, Managing Director – Media, Digital & Chief Strategy Officer, Kantar IMRB added, “Rising affluence, urbanization and literacy have changed Indian mindsets and definition of style and grooming. Today, more than half the urban Indian consumers strive to keep up with latest trends (and this number has grown by 13 percent in a year). Even the the role of grooming has been redefined – from looking good to being an integral part of being successful – a 12 percent increase in those who believe that grooming is essential for being successful in life. No wonder then the categories catering to this need - be it deodorants, face washes, beauty creams — all are showing a two digit growth in the last few years.”
Consumer centricity is the glue which binds a brand with its consumers. Hence, it is critical for marketers to keep a constant eye on the evolution and changes that are taking place amongst consumers, their lifestyles along with macro environmental factors. “For a fashion brand to be successful and stay connected with its consumers, consumer centricity needs to form the core of their product, marketing and business planning,” Mehta said as he began elaborating.
THE CHANGING PHYSICALITY OF INDIAN CONSUMERS
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