Statspeak: Companies need to understand the evolving consumer better

Identifying your niche and moving away from mass targeting will be the keys, says the Deloitte India report

Despite the prevailing slowdown in the economy, Deloitte India’s Know your consumer: What you see is what you get report has projected a bright picture for the economy as a whole and it predicts that the momentum witnessed by retail business and ecommerce will not only sustain in the coming years but also increase rapidly mainly due to demographic factors which include new opportunities in rural areas. Still, companies will need to understand the evolving consumer better due to the shifts happening in technology, consumer behaviour and convergence across sectors. Identifying your niche and moving away from mass targeting will be the keys.