The Hindu Business Line : Socio-economic differences are blurring: Consumer trends report

Bangalore, April 28 These tips could help marketers battling for wallet share of Indian consumers. A typical target consumer is no longer a SEC A, because SEC B and C consumers also subscribe to the same products and lifestyles, renting ownership in luxury products, and services. An increasing interest in history, heritage and roots of modern concepts is fuelling music, fashion and design trends.

The list of top-10 India Consumer Trends for 2008 brought out in March by Mindscape, a division of management consulting firm Technopak, revealed that the needs and desires of people across different social and economic strata are converging and socio-economic differences are getting blurred.

Feel young , look good

There is also a tendency to look young and good. “Marketers and communication experts need to take note of psychological neoteny and how to satisfy this ‘pursuit of novelty’ as people stay younger longer,” says the report.

Some other trend predictions for the year — kids would increasingly influence buying behaviours, especially in categories such as holidays and mobile phones; most people are sharing content with strangers which Web-based companies are cashing on; cause marketing is in with ‘green’, affecting buying behaviour in categories across designer wear, home accessories and holidays.

“Highlights of this year would be trends in leisure and entertainment and the Indian consumer going green,” says Ms Preeti Reddy, Vice-President, Technopak.

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