While the tired trope of India being a “poor country with rich people” might hold some statistical truth, the consumption data fails to capture the dynamic complexities of a nation on the cusp of a major economic transformation.
Beyond the Numbers: Navigating Consumer Realities: Traditionally, consumption patterns have been simplistically tied to income levels and urban or rural distinctions. However, the study highlights the inadequacy of this perspective. Consumption habits are influenced not only by economic factors but also by social and cultural attributes, as well as an individual’s perception of life and their societal position.
A Crux study, based on an extensive sample of 26,000 consumers, 120 experts, across 289 districts, delves deep. It’s a beacon for stakeholders, guiding decisions with nuanced understanding of trends, preferences, and economic factors. This comprehensive examination provides valuable insights extending beyond statistics, identifying far-reaching impacts for businesses, policymakers, and society at large. The study equips the ecosystem with detailed information to translate insights into actionable strategies that are both dynamic and transformational.
Analysing income distribution trends of the last 25 years reveals a nuanced narrative. Despite strides in income distribution, the past decade has witnessed a resurgence of inequality, illustrated by a concerning trend of “K-shaped growth.” Understanding consumption dynamics goes beyond macroeconomics. India’s consumer landscape encompasses metro, urban, semi-urban, and rural markets, each serving distinct segments. Micro-level changes in behaviour are vital, with the digital revolution empowering small-scale retailers and consumers alike.
Diese Geschichte stammt aus der May 18, 2024-Ausgabe von BW Businessworld.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der May 18, 2024-Ausgabe von BW Businessworld.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
A WAVE OF PARIVARTAN
KAIZAD M. BHARUCHA on HDFC Bank's flagship CSR programme Parivartan ('Change' in Hindi), and how it has made a profound impact on the lives of over 10 crore people, embodying progress and positive transformation
An Ace In All Regards
The Sonos Ace offers an interesting proposition by clubbing peak design, respectable ANC and a decent battery life
For the love of Street Food
Feel like eating something different? How about a Slow-Cooked Grilled Belgium Pork Leg? The dish is inspired by the festive streets of Italy, Germany, and Austria, where pork takes centre stage during the winter. Cooked to perfection over 24 hours, it pairs tender pork with a sweet and spicy apple purée, salsa macha, and crunchy pork floss.
India's Most Influential Marketing Leaders
The BW Top 100 Marketers 2024 sees significant representation from sectors such as FMCG, BFSI, auto and tech as the likes of healthcare register growth; women leaders account for over 27 per cent of the list
HERALDING THE ERA OF PRIVATE
Broadcom CEO & President Hock Tan asserts that the future of enterprise IT lies in private cloud solutions
Sustainable M&A Through Double Materiality
IN THE HIGH-STAKES WORLD of mergers and acquisitions (M&A), the focus has long been on traditional synergy metrics.
Lenovo's Puducherry Tryst...Now With An AI Twist
Lenovo's APAC and India leadership, including AMAR BABU, President, Lenovo APAC, AMIT LUTHRA, Managing Director, Lenovo ISG India and SUMIR BHATIA, President, Lenovo ISG Group - APAC, spoke with BW Businessworld's Rohit Chintapali on the company's new manufacturing capabilities based out of Puducherry facility that will now involve AI servers and high-end GPU units.Excerpts
40 Under 40 - Making A Mark
Hive Minds partners with clients across various sectors to deliver strategies focused on growth, creativity and client satisfaction
40 Under 40 - Leading The Charge
Visaka's Vamsi Krishna Gaddam advocates for ecoconscious business practices, driving innovations in building materials, electric mobility, solar energy and more
40 Under 40 - Judicial Efficiency
Adalat AI leverages tech to minimise case backlogs and enhance judicial efficiency, with ambitious plans for expansion across additional courts in India