4 AUGUST2021The Indian economy is booming and how. With a burgeoning middle class that has an increased propensity and intension to spend money as compared to the previous generation, consumer markets have been experiencing massive growth, irrespective of the segment. A major facilitator of this growth has been the female consumer segment across India. Forming roughly 50 percent of India's population, Indian women facilitate about 52 percent of the purchase decisions as compared to men who make 48 percent of the buying choices across all categories. While women and their buying decisions are in a majority in India, yet the percentage falls on the lower end when compared to other markets globally. None the less, it is women consumers who are affecting the consumer markets massively across the globe and irrespective of the segment. A decade or so ago, it was believed that women were responsible for making buying choices in segments such as home care, FMCG etc. but those days are certainly behind us. Women of today are becoming increasingly aware of brands and products across all categories and play a significant role in categories such as automobiles, electronic goods, financial services to name a few. More and more women are making informed choices in terms of facilitating big ticket purchases in households and as individuals alike. They are also known to spend more time in researching and comparing products before making the final choices. A major beneficiary of this phenomenon have been new age brand, especially ones that cater directly to consumers. Known as D2C or Direct to Consumers, these brands are known to come up with specialized and niche products that go to consumers without the involvement of a third party market place. The internet has democratized the entire consumer market and today we see a plethora of such niche brands cropping up across all segments. Not surprising is the fact that Beauty & personal care and food & beverage have been two of the most lucrative segments within the D2C industry. Major brands in this category have witnessed over 100 percent growth in scale with respect to pre-covid levels. A large chunk of this sale has been facilitated by women consumers. Till a few years ago, women consumers were demanding that their clothing have deeper pockets. Cut to, a few years down the line, it is these tiny pockets that hold a majority of the buying power across all segments. A welcome change indeed!It is thus time that brands and companies start looking at women consumers and their buying habits through a magnifying glassEditor NoteThe Rise of Female Consumer to be the Single Most Impact Trends in Years to ComeRachita SharmaEditoreditor@womenentrepreneurindia.com
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