Is India shifting to a Premium Market???
In January this year, Goldman Sachs reported that the “Affluent” Indians with Annual Income of $10000 or more has grown 12% faster than the Population of others in last 4 years and is set to become 10Cr by 2027. This Growth will fuel a demand of what I would call mass-Premium Products among the Customers Let us analyze few Industries: The most talked about is the Two-Wheeler industry. Over the last 4 years, the Premium Bikes Market share has gone up from 14% to 20 %. Individually all the companies have started having Premium Bikes in their Portfolio – including Hero Motors which has relaunched Karishma and plans to launch 2 more Harley Based XX440 this year. The company is planning another investment of about 1000 crores in this segment. I am specifically talking about Hero Motors since the company is the late entrant to Premium game and was complete dependent on the Mass Market. Moving to a more personal – Perfum...