According to the third annual edition of Accenture Research, “Masters of Rural Markets: From Touchpoints to Trustpoints - Winning over India's Aspiring Rural Consumers,” rural consumers are particularly aspiring or striving to purchase branded, high quality products.
Consequently, businesses in India are optimistic about growth of the country's rural consumer markets, which is expected to be faster than urban consumer markets.
The hinterlands in India consist of about 650,000 villages. These villages are inhabited by about 850 million consumers making up for about 70 per cent of population and contributing around half of the country's Gross Domestic Product (GDP).
Consumption patterns in these rural areas are gradually changing to increasingly resemble the consumption patterns of urban areas
India’s per capita GDP in rural regions has grown at a Compound Annual Growth Rate (CAGR) of 6.2 per cent since 2000.
The Fast Moving Consumer Goods (FMCG) sector in rural and semi-urban India is expected to cross US$ 20 billion mark by 2018 and reach US$ 100 billion by 2025.
SWOT (Strgengths, Weakness, Opportunities and Threats) of Indian Rural Markets reveals interesting information.
As is the trend with urban India, consumers in the rural regions are also expected to embrace online purchases over time and drive consumption digitally.
The rural regions are already well covered by basic telecommunication services and are now witnessing increasing penetration of computers and smartphones.
Disclaimer : For information purposes only
Consequently, businesses in India are optimistic about growth of the country's rural consumer markets, which is expected to be faster than urban consumer markets.
The hinterlands in India consist of about 650,000 villages. These villages are inhabited by about 850 million consumers making up for about 70 per cent of population and contributing around half of the country's Gross Domestic Product (GDP).
Consumption patterns in these rural areas are gradually changing to increasingly resemble the consumption patterns of urban areas
India’s per capita GDP in rural regions has grown at a Compound Annual Growth Rate (CAGR) of 6.2 per cent since 2000.
The Fast Moving Consumer Goods (FMCG) sector in rural and semi-urban India is expected to cross US$ 20 billion mark by 2018 and reach US$ 100 billion by 2025.
SWOT (Strgengths, Weakness, Opportunities and Threats) of Indian Rural Markets reveals interesting information.
As is the trend with urban India, consumers in the rural regions are also expected to embrace online purchases over time and drive consumption digitally.
The rural regions are already well covered by basic telecommunication services and are now witnessing increasing penetration of computers and smartphones.
Disclaimer : For information purposes only
