TRENDS: The Indian consumer, 10 years on

The Indian consumer, 10 years on...

Given the rapid changes in the country's demographic profile, marketers and advertisers say they would be addressing a whole new Indian consumer in the next decade..

*** Even as the majority of India will be young, there will still be a significantly large retired p

opulation and a very large middle-aged population.

What will the Indian consumer look like in 2020?

Based on a few reports (The FMCG Roadmap to 2020 by Booz & Co), some trend spotting by CEOs at the recent CII-FMCG summit and forecasts by experts, BrandLine pieces together the profile of the Indian consumer a decade from now. The 2020 consumer in the country will be:

• A younger Indian.

          *The average age of the Indian in 2020 will be 29

• A predominantly urban animal.

           *Even as marketers chase the rural markets today,the growing trend of large-scale 

             migration to the cities could mean changing ratios

• A multi-tasker SEEKING experiences.

           *the emerging new consumer will be a seeker of experiences: so the engagement would       

            have to be more visual, more interactive.Brands will need to focus on the experience.

• Not-so-price conscious, indulgent.

          *Several market surveys and studies have shown that the Indian consumer, even at the    

           BoP (bottom of the pyramid), is not so much cost-conscious as he is value-conscious.

          *By 2020 when per capita incomes are expected to double and India will be the eighth   

           largest economy, this will become even more pronounced. 

• More aware and educated.

         *As education levels rise (India will have more than 100 million graduates and    

           post-graduates), the Indian consumer will become more aware.

• A bit of a brand sceptic.

          *India is getting younger and the youth are typically not so sentimental about brands.     

           Second, the rise of private labels will give brands a run for their money. Hence, marketers 

           will need to work harder to gain brand salience.

• More health conscious.

         *even as their disease profile is forcing Indians to become more health conscious, the 

          Indian consumer wants a pain-free change.“The sweet spot for marketers is to give the 

          healthy option without foregoing the indulgences,” citing how consumers may switch to 

          healthier oils but will not give up oil.

• Convenience conscious.

         *With time at a premium and Indians getting busier, marketers will have to provide more ‘

          on the go' products. By the next decade, the Indian consumer will be demanding 

          convenience, not just of products but also of purchase.

          "how Kitchens of India, its ready-to-eat label, sells more online (on Amazon) than in retail stores."

• More individualistic.

         *The family structure will continue to evolve in the next decade — even as the joint family 

          disintegrates and nuclear units take firm shape, there could also be a rise in the single 

          person household.

         So, rather than address the family as a unit, marketers need to talk to individuals pointing 

         at how an increasing number of men are making FMCG purchases on their way from work.