Volume : V, Issue : VIII, August - 2015

Middle Class Consumerism in India: An Introspective Study

Shuvendu Dey

Abstract :

Indian society can be divided into different classes mainly based on income. The upper class consumers are the main buyers of exclusive stuff and frequently shop at exclusive retailers. The lower class, on the other hand, isusually concerned with basic necessities. The middle class can be found in between who want both necessities as well as luxuries but at affordable price. Past few years have seen the national income and per capita income grow considerably which has lead to increased shopping by middle class consumers. Indian middle class consumer nowadays gives preference to features of a product rather than its and name. Earlier most of the decisions used to taken by the family heads and their spendings were limited as they had to take care of survival of a large number of family members. Today this system has almost ended and nuclear families spend on luxury more than on savings. Companies are offering various kinds of promotional ploys like seasonal discount, festival discount, anniversary discount etc. to lure the middle class consumers. Credit cards facilities and hire purchase system act as supplementary facilitators. But unchecked consumerism can propel consumers into a vicious cycle of debt which is very perilous for both consumer and the country. Middle class has not emerged only as consumer class but there is a rising number of successful businessmen, startups and entrepreneurs who belong to this class. Hence middle class is both the cause and effect of economic growth.

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Article: Download PDF   DOI : 10.36106/ijar  

Cite This Article:

Shuvendu Dey Middle Class Consumerism in India: An Introspective Study Indian Journal of Applied Research, Vol.5, Issue : 8 August 2015

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