Indian Consumer Market to Be Driven By Digital Brands In Future

Posted on: Sep-2017 | Consumer Goods

India is presently into a motivating phase and going through it. The GDP is anticipated to spur by 7.5% in 2017–2018 fiscal years. And if compared to the GDP growth around the globe, which is stable at 3.5%, India is in a remarkable period and is projected to maintain its performance.

The increasing disposable income of middle-class society is projected to grow in double digits by 2025 along with mounting Internet penetration. At present, there are around 450 Million Internet users in India, which accounts 28% of Internet penetration.

As per the report, 80% of Internet consumption is done through mobile phones, leading the country towards the digital revolution. The evolution has also impacted the businesses from various sectors such as fashion, healthcare, booking services, food ordering, and matrimonial services.

In the emerging markets, dominating global brands have become aware of the importance of digitalization and its impact on brand performance. Many brands have adopted the strategies of “Digital First” to assist them in the development.
There are also brands such as ASOS, beauty retailer, and Warby Parker, a spectacles-seller that started its ventures through online first and later expanded their product through brick and mortar stores.

In Asian region, after the flourishing accomplishment of Chinese e-commerce sector, India is the next nation seen as the biggest market. The retail industry has been totally under the influence of digitalization. The accessibility to the wide range of products through the Internet and phone-enabled shopping culture has motivated the growth of the Indian consumer market.

Almost every corner of India now has easy access to the paramount brands along with the facility to get the product delivered at the door step. The digital technology has forced the entities to rethink the path of business and customer engagement. It has made mandatory for the companies to think beyond the traditional methods of retailing and explore new ideas to reach the techno-savvy people.

Brands that have developed a potential digital experience maintain their rank in the top listing and fetch new customers.

Shifting of the offline customers to online is one of crucial factor responsible for the growth of the global India consumer market.