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|PopularityVery true. The mindset of the consumer has changed in the recent times and will continue toprevail for quite sometime. But again, on second thought, this might only be limited to 'onespecific region', not the whole country.In India, festivals mean shopping, and I don't think that "literally anything" can change that.By nabaneet | New DelhiOctober 8, 2008 06:50:37 am:By mitalisrivastava | MumbaiOctober 31, 2008 03:50:56 pm:
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Financial Meltdown, Domestic Unrest HasIndia Down
Posted bySourabh Mishraon
10.07.08@ 12:18 PM
The cover illustration on this week's "Economist" summed up our currentfeelings in India in more ways than one. It pictures a figure, silhouettedagainst an angry red sky, on a crumbling cliff peering down into a precipice.The global, seemingly unshakeable, financial giants have had a very public"great fall," and now "all the king's horses and all the king's men" are tryingto put things together again, hopefully with $700 billion. Going by the fate of the original protagonist in the nursery rhyme, people are rightfully worried.The key local stock index (SENSEX) has crashed from 21,000 levels to 13,000 levels in the lastfew months. No wonder consumer sentiment seems to have dipped here after riding high for along time, according to a Boston Analyticssurvey.Marketing and advertising spends are headingsouthwardin this traditional festive seasonmarked usually by high marketing as well as consumer spends.A series of bomb blasts across the country over the last five months have further batteredpeople's morale. So now every time one goes to a crowded market or a crowded mall or gets intoa crowded train or bus (the crowds are a given here, and they are what make the Indian marketso attractive for global businesses), the tension is palpable. Suspicious glances at other shoppers,overworked security staff with their metal detectors all around, people missing a heartbeat evenat the sound of a child's balloon bursting and nervous jokes about bomb blasts mark the averagemiddle-class Indian's shopping expeditions today.With the back of his mind worried about the falling value of his investments and the very realsecurity threat all around him, is it any wonder that he is not in a particularly cheerful andfestive spending mode right now?
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