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24 November 2010
Mumbai, India
The leader of India’s unique identification system has outlined four key trends contributing to the rise of a new consumer in India.
Chairman of the Unique Identification Authority of India, Nandan Nilekani, said over a third of India’s 1.1 billion consumers had been largely overlooked in areas such as banking and social services.
Speaking to business leaders gathered at The Nielsen Company’s Consumer 360 event in New Delhi today, (Nov. 24) Nilekani said this had come about in part because there had been no effective way of reaching India’s poor.
He detailed four trends taking place across India:
- A demographic disruption taking place in India with an expected 11 million new people joining the workforce every year for the next five years.
- Mass migration to cities. The urban population is expected to grow by 31 people every minute for many years to come.
- Low cost mobile phones mean all social sets have access to the same or similar content.
- Indians are increasingly impatient with failing systems. As a consequence, service providers are responding more rapidly than ever.
Nilekani said these four broad trends heralded the rise of a new kind of consumer in India. “The Indian consumer today, no matter their income class, is highly aspirational, mobile, comfortable with technologies such as mobile phones, and eager for choices in faster, more accessible services.”
“This consumer, now empowered with an Aadhar number, will change the way she reaches out to products and services. We will need to adapt how we market to these consumers and win in the marketplace. In addition to Price, Place, Promotion and Product, it will bring the 5th P - Precision to life” said Piyush Mathur, President, India region, The Nielsen Company.
About The Nielsen Company
The Nielsen Company is a global information and measurement company with leading market positions in marketing and consumer information, television and other media measurement, online intelligence, mobile measurement, trade shows and related assets. The privately held company has a presence inapproximately 100 countries, with headquarters in New York, USA. For more information, please visit, www.nielsen.com
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