Attract budget-driven shoppers with private labels. Engage those looking for more than low prices with sustainability and functionality; stress brand heritage, safety and localism.
Saptarshi Banerjee, Senior Research Analyst – Lifestyle, India
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executive summary
- Key issues covered in this Report
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key trends and market factors
- Financial optimism drives value-based buying
- Graph 1: consumer’s future financial sentiment*, 2020-23
- Stricter budgets remain a priority
- Graph 2: consumers’ current financial situation*, 2019-23
- Sustainability: a must-have, not a mere hygiene factor
- Graph 3: consumers attitudes towards surrounding*, 2021-23
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what consumers want and why
- Graph 4: consumer attitudes towards spending, 2023
- Blend sustainability with functionality to charm value-seekers
- Graph 5: budget-driven shoppers vs value-seekers, by city tier, region and relationship status, 2023
- Graph 6: consumers attitudes towards spending, value-seekers, 2023
- Graph 7: environment-driven value-seekers vs functionality-driven value-seekers, by gender and age group, 2023
- Graph 8: attributes that would encourage consumers to buy a product beyond just evaluating price, by value-seeking shoppers, 2023
- Graph 9: consumer attitude towards personalised products, value-seeking shoppers, 2023
- Ease budget strain with private label and home cooking
- Graph 10: budget-conscious shoppers vs value-seekers, by city tier and parental status, 2023
- Graph 11: consumer attitudes towards spending, budget-conscious shoppers and value-seekers. 2023
- Graph 12: consumer actions with regards to their spend, budget-conscious shoppers and value-seekers, 2023
- Graph 13: consumer actions with regards to spend, by gender, city tier and socio economic group, 2023
- Graph 14: consumer actions with regards to spend, by age group, gender and city tier, 2023
- Graph 15: consumer attitudes towards spending, budget-conscious shoppers and value-seekers, 2023
- Brand heritage, safety and localisation are most-desired attributes
- Graph 16: factors considered when purchasing products across categories beyond low price in the last three months, 2023
- Graph 17: factors considered beyond low price when purchasing packaged food and drink in the last three months, 2023
- Graph 18: most important factors other than price when buying packaged food and drinks, by financial situation, 2023
- Graph 19: most important factors considered besides price when buying unpackaged fresh food, by city tier, 2023
- Graph 20: factors beyond low price considered when purchasing unpackaged/loose fresh food in the last three months, 2023
- Graph 21: factors beyond price considered when purchasing beauty and personal care products in the last three months, 2023
- Graph 22: most important factors beyond price when buying beauty and personal care products, by gender and age group, 2023
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appendix
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