Marketing to Indian Consumers
The Indian consumer is a tough nut to crack. Companies wanting to enter and win over the Indian consumer market must learn to navigate the bewildering diversity of one of the world’s oldest civilizations: 23 official languages, a thousand dialects, and a multiplicity of faiths, castes, culinary tastes, climatic conditions and cultural orientations necessitate careful micro-segmentation, something increasingly entrepreneurial local businesses are skilled at. At the same time companies must cater to the rising, educated and aspirational middle class that cuts across these boundaries. And if that weren’t complicated enough, increasing urbanization, disposable income, global exposure and smartphone penetration are leading to changing consumer lifestyles and behavior, creating major opportunities and challenges for domestic and international companies.
The upside is tremendous: With rising income levels and spending among 1.29B consumers, India is poised to become the world’s fifth largest consumer market by 2030. India is, quite simply, too big to ignore.
The session highlights how businesses can become nimble in learning from and responding to the market, and “think national, but act local” to meet the needs of India’s aspiring middle class.