Levis Essay

1086 WordsDec 5, 20115 Pages
1.3 INDIAN CONSUMERS “Companies are scrambling to decode the Indian consumer” EMERGENCE OF THE NEW CONSUMER Understanding the Indian consumer market means understanding its individual segments. Pertinent questions facing Indian marketers today include: “Who are the new consumers? What are they spending their money on?” The roundtable provided interesting insights into these emerging consumer segments and their buying behavior. Three major emerging segments were identified: Kids, the Youth (including the young working singles) and the Urban Indian Woman. These segments have shown a tremendous increase in influencing and driving purchase decisions and hence are huge drivers of change in the consumer market. Kids: Getting older younger There are 300 million children aged between 4–14 years in India — a vast market by any standards. The role that children play in purchase decisions has changed dramatically in the past 4–5 years. As Rajat Jain, Mobile2Win described: “From pester power, kids have changed their role to becoming influencers.” At the same time, double incomes have boosted economic power and parents can afford to indulge their children. Consumers in India are the most confident lot in the world regarding their outlook & future in general according to the latest consumer confidence survey released by Nielsen. Youth: Charting their own path With the majority of its population below the age of 25 years, India’s young consumer market is the primary target of every consumer goods company. They are also a unique market. Along with the love for brands and gadgets, they are equally comfortable with Indian values and Indian culture. The outsourcing phenomenon in India has been the main driver of this consumer segment as younger people now have cash in hand and this combined with increasing brand awareness has resulted in a lot of spending on

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