The rise in consumer Demand of Indian Market is due to following reasons:
Backed by healthy salary hikes, rising aspirations, and easy credit, Indian consumers are spending more on new products – both online and offline.
Consumer-oriented companies across sectors have seen robust sales growth in the past few years.
Data show that Indian consumers are driving growth in the automobiles and airline sectors, apart from supporting mobile phones and consumer durables sales.
Retail loans, too, are rising, and this boom is likely to support the broader economic growth in the current financial year.
Statistics tell the story of a surge in consumption. Consumer surge has also been witnessed in consumer durables, new mobile phone connections, and expensive handsets sales.
Sales of consumer durables such as TVs, refrigerators, air conditioners and washing machines are expected to grow by 30 percent.
If India continues on its current high-growth path, over the next two decades the Indian market will undergo a major transformation. Income levels will almost triple, and India will climb from its position as the twelfth-largest consumer market today to become the world’s fifth-largest consumer market by 2025.
Rajnish
The rise in consumer Demand of Indian Market is due to following reasons: