The mind of an Indian consumer

The market intelligence agency, Mintel has launched an interactive research tool Mintel Indian Consumer that boasts of unique data and local expertise, unlocking everything you need to know about today's Indian consumer.

Nidhi Sinha, head of content, Mintel Indian Consumer, said, “India’s economy is experiencing growth across industries. Growth in domestic sectors and the influx of investment is leading to high disposable incomes. This is driving young consumers to pursue new age aspirations such as travel, self-enhancement and indulgence. What’s more, new spending priorities centred around eating out, shopping and travel, are driving consumer willingness to experiment with new products and services and take a chance on new brands.”

Given positive personal finances, it seems Indians are now looking for new experiences and willing to spend on indulgences. In fact, the top three choices for consumer spending are eating out (23%), shopping for accessories/clothes (22%) and travelling (21%).

Modern consumers are now showing much more confidence in Indian brands, a distinct move away from a time when “foreign” was synonymous with “greater quality”. Looking specifically at the grocery retail sector, almost half (46%) of grocery shoppers in India agree that they prefer buying Indian brands over global brands. Also reflecting a gradual preference towards buying local, Mintel research shows that half of the grocery shoppers who visit hypermarkets (48%) and neighbourhood supermarkets (49%) factor in the availability of Indian brands in their decision of where to shop.

Natasha Kumar, Food & Drink Analyst, India, says, "Brands could eliminate the potential for food-related guilt by offering snacks with functional benefits and/or mood-elevating ingredients. They can explore messaging utilising ‘energising’, ‘calming’, ‘relaxing’ or ‘attentive’, with clear, ingredient-based claims and tangible benefits."

Key takeaway

1. Fulfil the indulgence aspect with smaller portions or better for you ingredients
2. Offer wellness products which help consumers to cope with their evolving lifestyles
3. Find a balance between wellness and indulgence to provide holistic and guilt-free products