“ India” – “Changes in Last 60 Years
AN ESSAY ON "“ INDIA” – “CHANGES IN LAST 60 YEARS"
India is a big country that consists of various segments of consumers, based on income, class and status. The most recent and crucial development in India’s rising consumerism story is the birth of the rural market for basic consumer goods.
Rise in literacy rates and exposure to the west, satellite television, newspapers, foreign magazines and newspapers have all led to the phenomenal rise of Indian consumer. Today, more and more of Indian consumers have become choosy and demand quality products at competitive prices. They prefer to purchase from renowned retail stores, where accountability is evident and feedbacks are given prominence. The Indian market is emerging as a dynamic and competitive area where “the only thing that is permanent is change”. The Indian market is going through a period of upheavals. The winds of liberalization or the opening up of the market have brought about changes that would have been unimaginable a decade ago. As barriers come down, new players both from India as well as abroad are entering in different products. Presently there are many national as well as international manufacturers in consumer durable products. They are fighting an intense battle to get a foothold, while the existing players are putting in all their counter strategies in this battle for survival. The battle is on across all the products- be it consumer nondurable, consumer durable or the service industry – though the degree or nature of battle may vary individually.
The Indian consumer story is one that has caught the attention of the rest of the world. Rising incomes in the hands of a young population, a growing economy, expansion in the availability of products and services and easy avail- ability of credit — all of this has given rise to new consumer segments and a rising acceptability of debt.
While consumerism has seen a gradual build-up, what is certain today is thatthere has been a genuine uptake
India is a big country that consists of various segments of consumers, based on income, class and status. The most recent and crucial development in India’s rising consumerism story is the birth of the rural market for basic consumer goods.
Rise in literacy rates and exposure to the west, satellite television, newspapers, foreign magazines and newspapers have all led to the phenomenal rise of Indian consumer. Today, more and more of Indian consumers have become choosy and demand quality products at competitive prices. They prefer to purchase from renowned retail stores, where accountability is evident and feedbacks are given prominence. The Indian market is emerging as a dynamic and competitive area where “the only thing that is permanent is change”. The Indian market is going through a period of upheavals. The winds of liberalization or the opening up of the market have brought about changes that would have been unimaginable a decade ago. As barriers come down, new players both from India as well as abroad are entering in different products. Presently there are many national as well as international manufacturers in consumer durable products. They are fighting an intense battle to get a foothold, while the existing players are putting in all their counter strategies in this battle for survival. The battle is on across all the products- be it consumer nondurable, consumer durable or the service industry – though the degree or nature of battle may vary individually.
The Indian consumer story is one that has caught the attention of the rest of the world. Rising incomes in the hands of a young population, a growing economy, expansion in the availability of products and services and easy avail- ability of credit — all of this has given rise to new consumer segments and a rising acceptability of debt.
While consumerism has seen a gradual build-up, what is certain today is thatthere has been a genuine uptake