In the Indian consumer basket

In the Indian consumer basket

Examining how Indians spend their money reveals a diverse landscape of habits shaped by culture, changing trends and economic shifts. From basic needs to leisure, Indian spending covers the essentials such as food, shelter, transport and leisure activities. Each category not only reflects what is purchased, but also tells a story about how people live and make decisions. In this article, we explore the specifics of each category and provide insights into Indian consumer behavior.

Culinary Preferences: On average, Indians spend around 40-50% of their total budget on food.

Food continues to be the cornerstone of the Indian population’s spending. A significant portion of the budget is earmarked for food, including staples such as rice, wheat, pulses, vegetables and dairy products. Additionally, the preference for branded and packaged foods has been steadily increasing, driven by changing lifestyle choices and convenience factors.

Additionally, the emergence of ready meals, snacks and processed foods have found a place in the shopping carts of many Indian consumers, demonstrating a shift in dietary preferences and consumption habits.

Prioritizing living comfort
Housing costs can be between 25 and 35% of the household budget.

These include rent or mortgage payments, essential utilities, and household maintenance, all of which make up a significant portion of expenses. As more and more people move to cities, the demand for nicer homes and things that make life easier increases. This change means people are spending more money to make their homes more comfortable.

For example, they renovate their homes, add decorations, and use smart devices to make life more convenient and modern. This shows that Indian families want a home that is comfortable and has the latest technology.

One the Move: Transport Trends
Indians spend around 10-15% of their budget on transportation.

Transportation costs vary across India’s diverse landscape. While some rely on public transportation, others invest in private vehicles. The automobile industry has witnessed remarkable growth with a rapid increase in purchases of cars and two-wheelers. In addition to the cost of purchasing vehicles, there are ongoing costs such as fuel, maintenance and insurance that add up and contribute to the overall transportation costs for Indian consumers.

The entertainment landscape
Entertainment typically takes up about 5-10% of the household budget.

Entertainment occupies a significant place in the lives of Indian consumers. From films, concerts and theme parks to digital entertainment platforms, the Indian people love leisure and relaxation. During the pandemic, as people spent more time indoors, the online gaming industry in India boomed rapidly.

According to a KPMG report, the average time Indians spent playing online games increased from 2.1 hours per week (11% of total smartphone time) before the lockdown to 4.5 hours (15% of total smartphone time). ) within a month, representing about 50% growth during the pandemic lockdown.

This growth has been driven primarily by increasing internet usage and widespread smartphone accessibility. Today, according to the Times of India, people spend between 8.5 and 11 hours per week on gaming activities.

The rise of iGaming presents a challenge: choosing the right platform. Among the numerous options, the vast majority of Indians prefer this one Parimatch, the world’s leading gaming platform. This choice is attributed to its numerous advantages including over 5000 sports and casino games, quick and easy registration, multiple payment options, support for over 5 regional languages ​​and many others.

Industry insights show that India’s gaming community is expected to continue to grow. According to Times of India, the Indian gaming market could reach $8 billion to $10 billion annually by 2028. This growth shows how digital entertainment is changing in India, with platforms like Parimatch aims to cater to the Indian audience’s increasing demand for immersive online gaming experiences.

Diploma
The Indian consumer basket is a mix of staples, lifestyle choices and evolving preferences. While spending on food, accommodation and transport takes priority in spending, the greater emphasis on entertainment spending highlights the evolving landscape of leisure activities for Indians in the digital age.

Content produced by Indian Clicks, LLC

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