Changes in Consumer Behavior and Their Implications on Marketers

Abstract

India has the youngest population profile among the numerically significant countries - there
are a lot of young people in different income segments and locations, who are influencing their parents’
spending or spending their own money. The attitude of Indian consumers has undergone a major
transformation over the last few years. The Indian consumer today wants to lead a life full of luxury and
comfort. He wants to live in present and does not believe in savings for the future. Due to fast growth of
the services sector per capita income of people of India is also increasing. The number of middle class is
increasing due to another fact that people are fast shifting from agriculture to the services and industry
sector where growth prospects are reasonably high as compared to the agriculture sector which is
showing slow growth. The consumption pattern of a country depends on liberalization of economic
policies, buying habits of the younger generation, financial independence at a young age, increase in
number of nuclear families and increase in media exposure of the people.