About INgene blog : First ever Indian Youth trend Insights blog

About INgene : First ever Indian Youth trend Insights blog:
This blog explores the detailed characteristics of Young-India and explains the finer & crucial differences they have with their global peers. The blog also establishes the theory of “adopted differentiation” (Copyright Kaustav SG,2007) and how the Indian & Inglodian youth are using this as a tool to differentiate themselves from the “aam aadmi” (mass population of India) to establish their new found identity.

The term youth refers to persons who are no longer children and not yet adults. Used colloquially, however the term generally refers to a broader, more ambiguous field of reference- from the physically adolescent to those in their late twenties.
Though superficially the youth all over the world exhibits similar [degree of] attitude, [traits of] interests & [deliverance of] opinion but a detailed observation reveals the finer differential characteristics which are crucial and often ignored while targeting this group as a valued consumer base. India is one of the youngest countries in the world with 60% of its population less then 24 years of age and is charted as the most prospective destination for the retail investment in the A. T. Kearney’s Global Retail Opportunity Report, 2007. With the first ever non-socialistic generation’s thriving aspiration & new found money power combined with steadily growing GDP, bubbling IT industry and increasing list of confident young entrepreneurs, the scenario appears very lucrative for the global and local retailers to target the “Youngisthan” (young-India). But, the secret remains in the understanding of the finer AIOs of this generation. The Indian youth segment roughly estimates close to 250million (between the ages of fifteen and twenty-five) and can be broadly divided (socio-psychologically) into three categories: the Bharatiyas, the Indians & the Inglodians (copyright Kaustav SG 2008). The Bharatiyas estimating 67% of the young population lives in the rural (R1, R2 to R4 SEC) areas with least influence of globalization, high traditional values. They are least economically privileged, most family oriented Bollywood influenced generation. The Indians constitute 31.5% (A, B,C, D & E SEC) and have moderate global influence. They are well aware of the global trends but rooted to the Indian family values, customs and ethos. The Inglodians are basically the creamy layers (A1,A SEC) and marginal (1.5% or roughly three million) in number though they are strongly growing (70% growth rate). Inglodians are affluent and consume most of the trendy & luxury items. They are internet savvy & the believers of global-village (a place where there is no difference between east & west, developing & developed countries etc.), highly influenced by the western music, food, fashion & culture yet Indian at heart.

Sunday, March 16, 2008

Ernst & young - Invest in Indian youth for retail profits

Invest in Indian youth for retail profits: E&Y
New Delhi, June 08: Identifying Indian youth as engine for growth of retail sector, global professional services firm Ernst & Young on Friday said they offered a huge consuming audience for lifestyle and luxury products. "By targeting the youth population in India, retailers will be investing in the future as they will be able to influence and create loyalty from the start," Ernst & Young director retail industry Ashok Rajgopal said while releasing a report 'Yousumerism, youth in India-opportunity knocks'. The high growth in the retail sector in India is primarily driven by the impact of rising incomes, increasing urbanisation, greater brand competition and most importantly, a youth-driven culture, he added. Analysing the potential of Indian youth market for retailers Rajgopal said: "Retailing in India is well past the stage of infancy with rapidly evolving Indian consumers who are seeking out modern formats." Favourable demographic and psychographic changes in India's youth, its rising affluence levels and international exposure have fuelled the demand for luxury & lifestyle products, the report said. "The Indian youth is more aware today than ever before, they are brand conscious and demand good product experiences," Rajgopal added. The report classified Indian youth into three segments Dabblers (13-21 years), Aspirers (22-28 years) and Thrivers (29 -35 years) and said India with the world's largest youth population is indeed a resplendent market and a priority market for international retailers. Rajgopal said availability of quality retail spaces and brand communication were also inviting investments from retailers in Europe and the US.
Bureau Report : http://www.zeenews.com/articles.asp?aid=375960&sid=BUS&ssid=50

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