” Sun Rises in the East” is a universal truth once again in India as the country continues to be a land of opportunities. The world market sentiments seems unable to beat the surprise of large ,new pockets of consumer activity.It is based on the statistics that like 72 % of India’s population is below the age of 40 and 47% of Indians is under the age of 20. This indicates the population that will create the consumption pattern for India in the future. The higher the consumption , the more opportunities of investment and gathering a higher amount of market share. With global conglomerates setting manufacturing plants and point of sale in India , makes the vision for growth more clear.
With large opportunities comes a large number of choices for the consumer , which brings up an uphill task for the marketer to “sell”. The large growth canvases provided by the metros have already been highlighted, its time for marketers to set sights beyond for traction. Here are four exciting arenas marketers should look for in India 2012.
Cities have always been regarded as ” engines of growth” with access to Man , Material and Money whereas villages are regarded as the “Bottom of the Pyramid” providing opportunities to provide low cost products and services. But as times have changed “Middle India” has been the hero of the all – India growth story since the past few years. Middle India is composed of towns having a population between 1 lakh and 1 million people. It is not something fictional as continuous research by the Nielsen Company and later published in December 2011 supports the underatted opportunity.
Typical Middle India towns are Haldia,Serampore,Bijapore,Hajipore and 400 other such towns . Over 100 Million Indias live in Middle India and according to the research estimates by the year 2026 the FMCG market alone will be worth Rs 4 trillion. The per capita consumption of FMCG products in these 400 towns stood at Rs 2,800 versus Rs 1200 – the all – India number.
Marketers need to understand the behavior of the consumers in this market segment to be a part of the ” Middle India Gold Rush”. Its time when global market launch should consist of towns beside the usual gamut of Indian metros.
The new face of India is the rapid increase in use of digital technology and digital media. Today, more than 120 million India users are subscribers of an Internet Service Provider, more than twice three summers ago. ” Karlo Duniya Muthi Mein”( take the world in your hands) is a fact today with more than 40 million Indians availing internet access on their mobile phone. Further research published by JuxtConsult ( India Online Landscape 2011) enlightens that over 4 out of 5 internet users “shop” online – either search or buy online- translating into a half a billion online consumer base.
Further insights have revealed that an average Indian Facebook user spends 45 minutes in a day, thus making it possible for brands to engage , engross and entertain ( The 3 E’s of Social Media Marketing according to me) with the target market. The huge number of smart phone users with apps adds up further to the consumer base for brands to interact and take opportunities. The recent hit of Kolaveri Di , reaching more than 20 million Indians globally is a measure of the impact and spread of internet.
The digital media playing field in quite huge providing accommodation to a list of brands, but yet to be utilized to its fullest potential. This year the marketers needs to take the online test for their brands and get rewarded with the vast target market to be acquired.
Before starting I would like to go back to the year 2007 when I wrote my Higher Secondary ( + 2 ) exams when the Supreme Court decided to increase the trouble for students by including “Environmental Education” a mandatory part of the curriculum. The publishers may have made some new business , the students may have struggled but 5 years later , today I see myself and my fellow preferring Green products and services. The 2011 Green Brands Global Survey , conducted with 9,000 consumers across 8 nations shows that more than 64% of Indians have an affinity for green products. Significantly , nearly 48% of consumers plan to spend 10% more since it is green.
Marketers need to take efforts to create green products and services and market them accordingly to the target market. Every product should be associated with “greeness” as a measure of environment friendly.Communication should be more based on how the brand and /or the products contribute to the environment or are environment friendly. Interactions with the target consumers should be have consumers becoming a part of conserving the environment with their products.The first – mover in this segment shall be the significant gainer else the brands would miss the flight to profits altogether.