Growth in income in last three decades: How consumer trends evolved in India
The fact is that pragmatic consumption remains the hallmark of most of Consumer India’s spending.(AP Photo for Representation) With income growth in the last thirty years and more supply at various price points, and better access to credit, there are a whole class of “have-somes” who are consuming now. The last three decades have brought consumption front and centre into Indian lives, irrespective of age or income. The major life focus of all Indians is to strive to earn more and save more in order to buy a better quality of life for themselves and their family. The tenet that consumption is wasteful and best done in moderation has been replaced by “it’s OK to want it, now let’s see how we can afford it”. What hasn’t changed, though, is belief that the Almighty needs to lend a hand too. The PayTM sign at the Kedarnath temple high up in […]