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.

Friday, July 22, 2011

The dealmaker- an interview with Kunal Bahl

Having transformed a village in Uttar Pradesh so much so that it's now called Snapdeal.com Nagar, the e-commerce specialist, Kunal Bahl tells us how its done.

The start up

There weren't many career options I explored beyond academics growing up. I went to school at Delhi Public School RK Puram, New Delhi. We grew up in a middle class family and there was no concept of pocket money. But, if we wanted something, it was usually not refused, as long as the request was reasonable.

There was a significant focus on academics in our household from the beginning, and this discipline probably ensured that both my brother and I ended up doing reasonably well at studies. He went on to go to IIT-Delhi and then IIMCalcutta. I went to Wharton, which is honestly, something I regret in hindsight. But, it's never too late.

Nerves of steel
Entrepreneurship at a young age, especially if you have a good academic background, is a fairly irrational decision, because the short team economic opportunity costs as a result of becoming an entrepreneur would never make sense otherwise.

We faced every kind of challenge-funds, hiring good people, finding the right business model, dealing with daily problems, convincing potential partners that wisdom doesn't only come with age and 24 year olds can be good at something too. For both, me and my friend and co-founder, Rohit Bansal, giving up was never an option. After a certain point, we didn't know of a life outside building our company.

It was challenging, and continues to be. Rohit and my biggest contribution to our business is the team we built. Many respected people in the industry often tell us that Snapdeal has the best team in the Internet industry in India, and that's of course just not Rohit and I - it's our entire team of rockstar professionals.

Lose some, get some
Sacrifices are part of life and definitely a part of building a business. Both Rohit and I try our best to take time off to go on a vacation once or twice a year, or a Sunday off and play video games. We still go out for frequent dinners after work, which has been a ritual since the early days of the business. I would go as far as to say that our friendship when we first met in class 11th over a decade ago was based on our mutual love for food.

To be honest, professional life does take over most things, but as long as you are having fun, it doesn't really matter. One should spend time doing what they love and lead a regretless life. And for us that special thing is our company.

The good samaritan
We always wanted to build a socially responsible company, and recently we came across a situation where we found out about a village in Uttar Pradesh. The village has approximately 2,000 residents (about 650 families) and didn't even have access to basic necessities like water. We realised that we could solve this problem very easily. By investing a reasonably small amount of Rs 2 to Rs 3 lakh, we installed 15 hand pumps so that instead of walking 1 km everyday, the villagers now have easy access to clean water within 50-100m of their homes.

I spent a couple of days in the village, interacting with the villagers, and trying to understand how we can further help them, and how this initiative of ours, changed their lives. The community wanted to extend its gratitude through the gesture of renaming their village after our company to Snapdeal.com Nagar. One of our colleague's family hails from a place very close to Shiv Nagar and that is how the problems of the community were brought to our attention.

Food, movies and books

I love food and right now, I am experimenting with some innovative food related concepts, which may eventually be commercialised, but that is not the intent with which I am pursuing them. So, there is a lot of experimentation that is happening in my kitchen. In addition to food, I like reading and travelling, but my undying love is movies. Hopefully, one day I can write a book, which I can make a movie about. Now that would be something.

Source: http://in.education.yahoo.com/news/yeduindiatoday/-dealmaker-20110718

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