STANDING OUT TO THE URBAN INDIAN SHOPPER
They say the consumer is king, with the power to make or break a brand. And if this is true, then shoppers are the emperors of the marketing world! So understanding what drives shopper choices is key for brands to identify, attract and retain consumers. And because urban Indians have some of the greatest purchasing power in the country, understanding their unpredictable buying habits across sectors is crucial to brand success.
In India, on average, one in every two shoppers changes his or her mind from deciding to purchase something until actually pulling out a wallet. That means $20 billion of sales are up for grabs every year in urban India alone. For brands to successfully capture their affluent, urban consumers’ interest and sales, they need to:
Securing these potential shopping dollars is very important by sector. Approximately 80 percent of discretionary spending dollars in fast-moving consumer goods (FMCG) and 42 percent in travel are directed to somewhere other than where they were actually intended to go. If you can earn a bigger share of your shoppers’ wallet, then you have a better chance to stand out in and lead your category.
In today’s competitive market, retailers can’t just offer discounts or more volume for the same price. Smarter deals are winning battles for brands. Such smart deals bundle offers on products and services that customers don’t expect to receive. Most importantly, these promotions allow shoppers to save so that they can splurge on items they really want, building shopper loyalty.