A report titled ‘YouSumerism, Youth In India-Opportunity
Knocks’ released by Ernst & Young has interesting observations about the Indian youth sector. For starters, it reinforces what we all knew: that this segment is the engine for growth of the retail. The report – that says that India has the world’s largest youth population and is therefore a bigticket market for global retailers – categorises Indian youth into three segments: Dabblers (those in the 13- 21 age bracket), Aspirers (22-28 years) and Thrivers (29 -35 years). This galloping growth – particularly in lifestyle and luxury products – is thanks largely due to increasing urbanisation, rising incomes, greater brand competition and the falling in place of a youth-driven culture. And “favourable demographics” and “psychographic changes” among India’s youthful population, its rising levels of affluence and the segment’s international exposure have all fuelled the demand for luxury and lifestyle products, the report added. “By targeting the youth population in India, retailers will be investing in the future as they will be able to influence and create loyalty from the start,” said Ashok Rajgopal, Ernst & Young Director, Retail Industry, while releasing the report.
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Source: IIPM Editorial, 2008
An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative
Knocks’ released by Ernst & Young has interesting observations about the Indian youth sector. For starters, it reinforces what we all knew: that this segment is the engine for growth of the retail. The report – that says that India has the world’s largest youth population and is therefore a bigticket market for global retailers – categorises Indian youth into three segments: Dabblers (those in the 13- 21 age bracket), Aspirers (22-28 years) and Thrivers (29 -35 years). This galloping growth – particularly in lifestyle and luxury products – is thanks largely due to increasing urbanisation, rising incomes, greater brand competition and the falling in place of a youth-driven culture. And “favourable demographics” and “psychographic changes” among India’s youthful population, its rising levels of affluence and the segment’s international exposure have all fuelled the demand for luxury and lifestyle products, the report added. “By targeting the youth population in India, retailers will be investing in the future as they will be able to influence and create loyalty from the start,” said Ashok Rajgopal, Ernst & Young Director, Retail Industry, while releasing the report.For Complete IIPM Article, Click here
Source: IIPM Editorial, 2008
An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative
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