Welcome to the world of the increasingly price-sensitive Indian consumer where bargain-hunting is the norm and brand loyalty non-existent.
"It’s a never before world," says Rama Bijapurkar, India’s foremost retail strategist and thought leader, describing the fast-growing middle class consumer as a "monster hammering down prices relentlessly" in his pursuit of value and quality.
For a sampling of how this so-called promiscuous consumer operates, look no further than India’s smartphone market where high-end offerings like Apple’s iPhones have failed to make significant inroads. Instead, local players like Micromax, Karbonn and Lava now dominate the market. Their strategy? Launching smartphones that priced in the USD45-USD75 band – a bargain compared with the iPhone 5S which retails at USD850.
(Source: CNBC)