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Top-End Urban Consumers

Top-End Urban Consumers

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Published by Indicus Analytics
In India, it is not just the rural-urban divide that is striking in consumer markets, but also the diverse income segments within the urban centres. Income-wise segments can be created in many ways, the Indicus Urban Consumer Expenditure Spectrum takes five cuts – households earning less than Rs. 1.5 lakh per annum, between Rs. 1.5 lakh and Rs. 3 lakh, between Rs. 3 lakh and Rs. 5 lakh, between Rs. 5 lakh and Rs. 10 lakh and finally, households earning more than Rs. 10 lakh per annum. The top-end of urban consumers, that is the households earning more than Rs. ten lakhs per annum is a small segment, comprising around 5% of all urban households in India and around 6% of urban population. Yet despite being a small group, this segment contributes to a third of total urban consumer expenditure, making it one of the most sought after markets in India. This segment also constitutes close to half of the total urban household savings, with the highest disposable income and earning opportunities.
In India, it is not just the rural-urban divide that is striking in consumer markets, but also the diverse income segments within the urban centres. Income-wise segments can be created in many ways, the Indicus Urban Consumer Expenditure Spectrum takes five cuts – households earning less than Rs. 1.5 lakh per annum, between Rs. 1.5 lakh and Rs. 3 lakh, between Rs. 3 lakh and Rs. 5 lakh, between Rs. 5 lakh and Rs. 10 lakh and finally, households earning more than Rs. 10 lakh per annum. The top-end of urban consumers, that is the households earning more than Rs. ten lakhs per annum is a small segment, comprising around 5% of all urban households in India and around 6% of urban population. Yet despite being a small group, this segment contributes to a third of total urban consumer expenditure, making it one of the most sought after markets in India. This segment also constitutes close to half of the total urban household savings, with the highest disposable income and earning opportunities.

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Published by: Indicus Analytics on Jul 04, 2011
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07/04/2011

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Published: Mint dated 4
h
July, 2011
IndicusConsumer Data Products
The heterogeneitythat characterizesthe modern Indianconsumer hascreated a mazethat marketerswould like tounravel in order totarget theirproducts andservices precisely.In this fortnightlyseries, IndicusAnalytics willpresent the variousfacets of urbanconsumers, acrossgeographies andsocio-economicgroups
 
In India, it is not just the rural-urban divide that is striking in consumer markets, butalso the diverse income segments within the urban centres. Income-wise segmentscan be created in many ways, the IndicusUrban Consumer Expenditure Spectrumtakes five cuts –households earning less than Rs. 1.5 lakhper annum, between Rs.1.5 lakhand Rs. 3 lakh, between Rs. 3 lakhand Rs. 5 lakh, between Rs. 5 lakhandRs. 10 lakhand finally, households earning more than Rs. 10 lakhper annum. Thetop-end of urban consumers, that is the households earning more thanRs. ten lakhsper annum is a small segment, comprising around 5% of all urban households inIndia and around 6% of urban population. Yet despite being a small group, thissegment contributes to a third of total urban consumer expenditure, making it one ofthe most sought after markets in India. This segment also constitutes close to half ofthe total urban household savings, with the highest disposable income and earningopportunities.
 
On an average, the three items that make up the largest share inthe householdexpenses are travel and conveyance, consumer services and rent. Households inthis segment can afford to own more vehicles, travel at resorts around the country orholiday abroad. The high income also makes for large expenses onconsumerservices, especially salaries of maids, drivers, tailoring and personal care services,telephone and other communication expenses and so on. Even within personal careservices, these households would tend towards the high-end of the spectrum as theycan well afford such luxuries. Apart from those who have always been in the upperincome segments, the ‘old rich’of urban India, there would be those households whohave made it into this category in the last decade or so.

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