The consumer products industry has been growing at a brisk pace in the past few years backed by robust economic growth and rising rural income. Growth drivers such as rapid urbanization, evolving consumer lifestyles and emergence of modern trade have shielded the industry from the slowdown.
The industry is still urban-centric with majority of the goods being consumed by urban India. Metropolitan cities and small towns (population of 1-10 lakh) have been driving the FMCG consumption in urban India since 2002. Backed by low unit packs and aggressive distribution reach, rural market size is expected to expand in the future.Dual income families, higher income levels, changing lifestyles and increasing consumer awareness are the key drivers for this industry.
Presently, the consumer goods industry is witnessing the advent of multinational companies (MNCs) that are targeting the middle class population in India. With the urban market attaining saturation, tier 2 and tier 3 cities, along with the rural market, are spearheading considerable growth due to increased awareness. Penetration of consumer goods is expected to increase manifold in the coming years if more financial incentives are provided for the white goods industry.
The consumer research provides a complete understanding of the consumer motivations for choice and usage of the product/brand, various user segments and the perceived benefits of the product.
Some of our range of studies in Consumer Research sector