Key Drivers Of Retailing : India 's Consumer Pull Essay
In Pre-Liberalization the manufacturer was the king of the market, all the power rested with the manufacturer. But in today’s market, consumer are the kings, this is mainly due to liberalization in consumer goods, industries, vanity product, consumerism and increasing wealth. All this change will be mainly seen in youths in metro cities.
Consumers can be divided into two broad categories:
• High income segment- The consumers who have high income gives lesser importance to their expenditure, For instance, Consumer with high income while shopping for his household products gives lesser importance in his grand total of his bill because it will not make him much difference in his part of salary.
• Middle & Lower income group- The consumer of lower and middle income group gives much importance or their involvement will be high in their day to day expenditures, because the expenses which he incur will directly and highly effect his monthly salary. Now due to supermarkets, customers are allowed to select the products and verify or compare the product with other products which leads the consumer to have direct interaction with the product and control their expenses even more efficiently.
After the liberalization, various industries started entering into the Indian market which lead to rise in the income of people. Due to this change in the economy, the living standard of people also changed. Now this growing high income…