Indian market research consultancy Market Pulse spoke with close to 350 consumers in Delhi, Mumbai and Chennai to understand their attitudes to modern retail and their spending patterns.
The typical Wal-Mart customer earns less than the US national average income. And some reports say that one in five customers does not have a bank account; that’s twice the national average.
The Indian approach to big-box retail is slightly different. The less affluent still walk down to the corner store and call the bania (shopkeeper) to deliver their month’s groceries. Despite all the hype around malls, Kirana (corner store) accounts for 94 per cent of the $320 billlion organised retail trade in India. That ratio isn’t going to change anytime soon, so manufacturers would do well to pander to the convenience stores.
More on those interesting findings, here.