People’s perceptions have changed and they are now spending their hard earned monies on luxurious items, eating out at good restaurants, fancy gadgets, designer wear and lots more.
The prices of elite items – gold and silver are at all time high. The last close was an approximate of Rs.21,000 (per 10gms). The reason being the wedding season and the higher industrial demands of gold and silver.
The sales of automobiles have faced the highest sales in India in the last few months. The sales have increased with an approx of 12-13%. – Society of Indian Automobile Manufacturers. Travel by air has also increased. Inspite of a recession, the aviation industry saw a rise of 21%.
The number of cellular users has increased at a remarkable stage. Indians alone have bought more than 150million pieces in 2010 while the total numbers of users are over 700million.
Old conventional banking needs have changed too, now people opt in for ATM”s and are following the convenient and quicker mode of cash transactions. 95% of the market opt in for the same.
Mobile portability of using same cell phone numbers and using schemes of other telecom challengers have given an added advantage to the consumers.
A study reveals that at the rate the spend rate of consumers are increasing by 2025, the country is expected to be the world’s fifth biggest consumer market as income levels and standard of living is improved and people are bound to grow in their respective fields
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