Consumption story set to grow three-fold to $4 tn by 2025: BCG
The Dollar Business Bureau The domestic consumption story of India is likely to increase three-fold to $4 trillion by 2025 as the increasing affluence levels led to changes in the behaviour of consumers and the patterns of spending which have huge implications for the firms, a report by the BCG said. A minimal year-on-year growth of expenditure of 12% in India is more than two-fold compared to the anticipated world rate of 5% and this will make it the third-biggest consumer market at $4 trillion by 2025, the report said. India is already the third biggest economy with regards to purchasing power. "The consumer market in India is set for fundamental changes,” said Nimisha Jain, a partner at BCG and co-author of the report. ...
E-commerce is expanding the Indian luxury market: ASSOCHAM
The Dollar Business Bureau Indians are likely to spend US $35 billion on online luxury stores by 2016 compared to that of US $8 billion in 2012, says the Associated Chamber of Commerce & Industry (ASSOCHAM), in its recent study. The online luxury industry in India is growing at a compound annual growth rate of about 25%, added the study, while referring to the reasons contributing to the rise of the industry in the country. According to the study, a rise in disposable incomes, expansion of modern retailing and the impact of western culture have provided a platform for promising growth of online luxury industry in India. The study said that the major growth is being driven by the ...
