Market research company Quantum Consumer Solutions has released a report on the rising middle class and their consumption pattern in India. The report titled 'The Motion of Aspiration' focuses on the new emerging class, 'Aspirants', their behaviour, consumption patterns and their evolution pathway, which foretells an evolving consumption model in future India.
As defined by Quantum, 'Aspirants' is a class of consumers that can neither be included in the deprived set of population nor the middle class - thus it is a 'new emerging class' accounting for 450 million of the population who are slowly moving up the ladder to become tomorrow's middle class.
Major shifts have been witnessed in the 'Aspirant' class which can provide an orientation to marketers, brands and businesses so that they can identify emerging opportunities, tailor their strategies and maintain a healthy conversation with consumers throughout. These shifts have been captured in the report across six patterns of consumption - Food & Beverage, Technology, Personal Care & Grooming, Home Care, Media & Entertainment and Health & Nutrition.
Read the entire report below: