Indian Consumption story set to treble to $4 trillion by 2025
March 21, 2017
The domestic consumption story is set to treble to $4 trillion by 2025 as rising affluence levels drive changes in consumer behaviors and spending patterns that have big implications for companies, says a report.
A nominal year-on-year expenditure growth of 12 per cent in the country is more than double the anticipated global rate of 5 per cent and will make the country the third-largest consumer market by 2025 at $4 trillion, says a report.The country is already the third largest economy in terms of purchasing power.
The consumer market is poised for fundamental changes.
As consumer market continues to grow and evolve, companies will need to shed conventional wisdom, try multiple business models simultaneously, and be prepared for rapid changes internally to adapt to changing consumer needs and behaviors.
The report notes the elite and affluent income segments will constitute 40 per cent of all spending by 2025, and the wealthy will represent the largest consumption segment for
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