Retail in India: Unlocking growth in the global consumer powerhouse

In part one of this series, we described how India is becoming one of the world’s most important consumer markets. However, it is also complex with an array of segments. Global firms entering the Indian market need to understand its consumers and build a local and standard product, paying attention to segment diversity and cultural synergies.

India's multifaceted consumer market

Not only is the Indian marketing calendar influenced by festivals, cultural practices, and festivals (sales fall during shraadh, and rise during the October-November festival period.) Navigating price sensitivity in Indian markets is another colossal challenge: consumers are price sensitive and value conscious.

For FMCG players, emphasis has been on volume-driven growth, as opposed to high…