It obviously impacts society, accelerates the modernisation of the country, changes mentalities, creates purchasing power, and benefits brands, marketers, strategists. Ipsos Flair is the rendez-vous to develop all facets of India today and tomorrow.
1. India is the place to be.
Moody’s has recently upgraded India’s rating from Baa3, just above “junk status”, to Baa2, and its outlook is up from “stable” to “positive”. This means Indian companies will be able to borrow money more cheaply in the global market, supporting investment.
2. India is one of the largest markets in the world.
By 2025, its 32.9mn middle-class consumers will receive 45% of total income. 67% of total population growth in the next 25 years is expected to be in urban areas. By 2030, India will have more than 70 cities with over 1 million inhabitants.
3. India is still comparatively young…
Close to half its population is below 25 years of age. The youths exert deep influence on lifestyles, products and popular culture, with optimism and energy. Successful youths with higher purchasing power receive more consideration from elder generations.
4. … but India is also ageing.
India is expected to be home to 300 million elderly people by 2050. With 50% of the elderly being financially dependent on younger generations and the majority living in rural areas, India is facing a towering healthcare access issue. Connected healthcare technology could be part of the solution.
5. India has massively adopted mobile technologies.
India has the world’s second-largest mobile phone user base (1 billion, with half a billion internet users). By making information far more accessible, mobile technology plays a decisive role in empowering people in the new economic and social environment.
6. India is empowering women.
The female literacy rate has jumped from 53.6% to 65.4% in the last decade. Women are increasingly being hired in well-paid positions and are more likely to pursue a career while taking care of their family at the same time. They have now a lot more money to freely spend on personal consumption in areas such as wellness, beauty, fashion and entertainment.
7. India wants to be healthier.
India has the highest diabetes prevalence rate in the world with more than 50 million people affected. There is great pressure on eating habits and a strong injunction to stay fit and healthy. Yet, there are still many slips between the cup and the lip, as notoriously unhealthy products usually perform far better than the ones with the strongest health claims.
8. India likes gurus.
Spirituality and marketing are intricately linked to each other: a partnership between Baba Ramdev and the Patanjali brand has created the fastest growing CPG products conglomerate in India. The guru, founder of a brand of Ayurvedic products, has made the new brand a resounding success that competes with major international groups in the country.
9. India is Noah’s Ark.
The total number of pups owned by Indian households has been swelling by 58% between 2007 and 2012, the fastest growth rate among the 53 countries surveyed. And fishes, cats, rabbits, guinea pigs have been popular as well. Apart from the comfort and affection they provide their owners with, these pets are also highly regarded as a sign of financial success.
10. India is a jewel casket.
It has long been recognised that, in the land of the Maharajahs, luxury is deeply embedded in the local culture, despite the squalid poverty which has long been associated with the mass of the population in the eyes of Westerners. International brands have thus to adapt to this strong local culture.