Advertising & Economy - XIV
The study says " So rapid and sweeping has been the acquisition of consumer durable by the middle class that in many cases, there is not close to saturation ownership. Thus 94 percent of the middle-class homes now have a TV set, either color or black and white. Similarly, more than half of the urban middle class families now own a refrigerator and mixer grinders, while a third have two wheelers. Roughly a quarter have their cameras, stereo systems and telephone connections. And just under 10 per cent own cars." Significantly, more than half the total number of respondents in the survey live in their own homes. These data are about ten years old. (India)
If one looks at the way some of the biggest transitional corporation in the consumer non-durables field are fighting to overwhelm local and foreign competition in the Indian market, it becomes clear that the Indian middle class and elite market is expected to continue to expand very fast and respond eagerly to new products. Maybe, as the new economic system stabilizes, we shall see a slow but steady growth of the average idle class market in India. The consumer non-durables market is likely to expand faster than the consumer durable market.
The two top layers of the upper
income levels would constitute this urban middle class, numbering about
4.7 crore individuals. it is for this narrow market that "the battle for
consumer products and conspicuous consumption would take place" in the
current decade. The study indicates that the market for general toiletries
is likely to grow at a rate of about 10 percent, but such item as perfumes,
lipsticks, makeup items would grow at around 15 per cent or more. There
would be great deal of competition in categories of product which do not
fulfill any essential needs, such as soft drinks and processed foods.
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