Indian Consumers

Submitted by rashmijsr on Thu, 2008-05-15 13:41

In the world map you will find indians every where. There is a big demand for indian food overseas. We indians are penetrating every market and creating a tale of our culture every where on the world map.

Indian market is very diversified. We have got Upper class, Middle class and below middle class. The Upper class is rich and has high spending power while the middle and below middle has got less spending power. With the growing income and rising economy the middle class too has got good spending power and spend a lot on luxuries which were previously perceived as waste of money. Shopping malls are opening in every city whether big or small keeping in mind the local consumers.

Shopping malls entertain each and every type of audience. Take example of Big bazaar – its serves each and every section of society and stocks every type of commodity, goods and furnitures. It has made shopping so easy, one place to shop for all types of commodity. With increased and high spending power and in a competition to show off people are spending much more on luxurious goods.

It is calculated that the Rich class saves 44 % of earnings while the middle and lower middle saves according to their incomes. The lower middle class concentrates more on saving money for the future. Money is saved in banks, bonds and as insurance policies.

According to recent survey it is expected that there will be very less population occupying the bottom of the Pyramid by 2025. The spending power of people will increase and thus the marketers will make more and more profit.

© 2010 Rashmi Priya. m