Understanding India's middle class: insights from TGI
Kantar Media TGI
In recent years there has been a lot of interest in the Indian economy from multinational giants looking for growth in new regions. This is because the country has been experiencing growth levels much higher than those in Western economies. However, at a time when the global economy is slowing, many companies with their sights set on emerging markets may already fear that the high levels of growth India and China have been enjoying will not be sustainable.
The key to success lies in the middle classes. Over the last few years more middle-class Indians are visiting shopping malls, travelling by air, using a PC at home, and carrying credit or debit cards. The growth potential of this consumer group is something of significant interest to multinational corporations (MNCs), and is an integral part of many of their growth strategies. Looking at consumption patterns such as rising car ownership (up 92% in the last ten years), as well as varied attitudes towards consumption among different groups within the middle class, will help MNCs to understand consumers in India and market to them better.