MEDIA FOR BRANDS IN INDIA
- Who really is premium and affluent in India?
- Where do they reside?
- Is affluence a mere metro phenomenon ?
While most of us would believe so, recent data tells a different story ??
With India ???? on the path to becoming a 5 trillion-dollar economy in next couple of years, the affluent Indians are emerging as a distinct & large cohort. The affluent class today is growing 12x faster vis-à-vis overall population. What’s particularly striking is the phenomenal surge in affluence in non-metro markets.
Discretionary spend across categories including leisure travel, premium cars, online shopping amongst others have seen a rapid rise in Tier-2 and Tier-3 cities compared to Tier-1 metros.
Premium brands like Mercedes & Starbucks have already built strong retail footprints in the Tier-2 & 3 cities, reflecting the skyrocketing standards of living and consumption habits within the next 40-50 cities.
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As a cohort in size, the affluent populace in non-metros today (beyond top 8-10 cities) is larger than metros and brands must look at optimal means to reach out to these audiences to really scale and expand their categories.
PS: In the last slide (6th) the keys are reversed. Metro is ?? and non metro is ??
#mediaforbrands #brandbuilding #brandmarketing #media #mediaplanning #powerofsports #cricketontelevision
Last updated June 17th, 2024
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Content Credit Iamdarshan This post was originally published in 2024 in LinkedIn by Darshan Sheth