In the recent times, the Indian consumers are going gaga over the “Made in India” products. This is quite obvious considering the overwhelming response the “Make in India” initiative is receiving from the manufacturers and consumers alike.
A survey conducted by KPMG revealed more than 60% of the participants were willing to opt for Indigenous brands. 41% among these were willing to pay additional amount too. The survey highlighted that
80%-90% of the participants were willing to pay more owing to their social responsibility towards the society and environment. The survey was conducted across various age groups.
The COVID -19 pandemic brought in scores of changes the consumption habits of people. The average Indian consumer focuses on spending reasonably. It has been widely observed that there has been a significant dip in the fad for global brands post COVID-19.
Simultaneously, one is willing to buy sustainable products that are safe for the society and environment too. The report specified that more than 70% of the crowd of Generation X (people aged 37-53 years) and Millenials ( people aged 17-36 years) are focusing on the optimum utilization of their finances.
The emergence of India’s self-sufficiency (Swadesi) movement has also boosted the confidence of Indian manufacturers as people are finding the Made in India products quite promising. This is a great opportunity for all the investors interested to fund in companies engaged in Make in India initiative to serve their country and reap profits at the same time.
The retail consumers today believe in “customization mantra”. As per the KPMG reports Digital payments have achieved the status of “necessity” as more than 50% of Indians have favoured the digital way. AR ( Augmented Reality), VR ( Virtual Reality) and online services are gaining a lot of prominence among the millennials and the Gen X crowd.
Made in India products have received enormous popularity over the past few years opening the doors for huge investments resulting in huge profits. Investing in Made in India products will surely fill you with a feeling of pride, honour and a sense of optimism.
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