Why Price Matters
A recent Nielsen study shows that most Indians care a lot about price when they shop. In fact, 62 out of 100 people check prices carefully before buying anything. This price sensitivity means they want to get the most value for their money.
According to Euromonitor, when buying chips, almost half the people switch to a cheaper option if prices go up. This shows how price as decision factor affects what people buy.
Why People Stay Loyal to Brands
Even though price matters, many people still love and trust specific brands. A study by Kantar found that about 39 out of 100 Indians stick to brands they know well. This brand loyalty is strongest for things like:
- Baby products
- Skin care items
- Health foods
Why? Because people want to be sure these products are safe and work well. For example, many people use the same shampoo brand for years because they trust it. This emotional connection makes them feel good about their choice.
Different People, Different Choices
The Census India report shows that consumer behavior changes based on who's buying. Young city people often look for good deals because they have less money to spend. They love online shopping and check online reviews before buying.
Statista reports that older people usually stick to brands they've known for many years. This consumer preference comes from trust built over time. They care less about price increase if they really like a brand.
How Social Media Changes Shopping
According to eMarketer, more than 70 out of 100 Indians check social media before buying everyday items. Today, many people find new products through social media. Influencers play a big role in showing products and sharing their thoughts.
These online reviews and posts help people decide what to buy. They make emotional branding strategies work better because people feel connected to the brands they see online.
Smart Pricing Plans
Deloitte's report shows companies use different ways to set prices. They try to:
- Keep prices low enough for price-sensitive buyers
- Make special deals for loyal customers
- Create product subscriptions to keep customers coming back
- Find ways to have low operational cost so they can offer better prices
What Companies Need to Do
The Business Standard shows that to succeed in India's market, companies must:
- Understand their target market analysis carefully
- Make product enhancements that people want
- Keep prices fair to avoid suboptimal results
- Build strong connections with customers
- Listen to what different groups of people need
Why This Matters
Understanding how Indians shop helps companies serve them better. When brands know about price sensitivity and consumer behavior, they can:
- Make products people can afford
- Build trust that lasts
- Create emotional connections with buyers
- Give people good value for their money
The key is finding the right balance between affordable prices and quality products that people trust and love.