LIFE STYLE OF INDIAN CUSTOMER IN THE NEW GLOBAL ERA A new global middle class is rising up from poverty

in emerging economies around the world, providing competition for labor and resources, but also enormous promise for multinationals that tailor products and services to the burgeoning ranks of first-time consumers, according to Wharton faculty and analysts.

Lifestyle of india
Punjabi, Marathi, Bihari, Bengali, Assamese, Nepali, Gujrati, Kashmiri. Though India consists of diverse ethnic races and groups and each of them strictly adhere to their own set of customs and tradition, yet there is a common lifestyle pattern followed by almost all the Indians. This, despite the fact that there is so much variation in their language, dressing style and custom! Read on to know about the life of people in the country and what traits put them together under the brand 'India': Joint Family System A majority of the people in India prefer to live in a joint family, which could comprise anywhere between a group of two or more members to even over 20 members sometimes. As per the Indian way of living, the commanding position in a family is held by the eldest earning male member. He consults other adult members on important issues, but it is his decision that ultimately prevails. However, a lot of importance is also given to the advice of the eldest retired members of the family. Women as Homemaker As per the lifestyle of the Indian people, it is the duty of a woman to take care of her home. As such, from her very childhood, a girl child is taught to rustle up mouth-watering dishes by her mother and other ladies in her family. She is also taught to attend to guests and strangers politely and elegantly because it is thought to greatly reflect upon her upbringing. Hers is a 24x7 job, yet she manages to execute it smoothly and is respected for this quality. Worshipping Worshipping is an important part of the daily life of Indian people. You will find the holy basil tulsi planted in maximum houses, which people water as well as worship everyday religiously. Many Indians are associated to various religious sects and attend weekly gatherings to listen to the sermons. Apart from temples, mosques and gurdwaras, there will also invariably be a personal place for worship, and pictures of Gods and Goddesses, in every house in India. Respecting Elders One common trait you will find amongst Indians is that children show utmost respect to their elders. Now this is one habit all Indian parents deliberately inculcate in their children, since beginning. It is an unsaid rule in India that a person cannot answer back to elders and more so, when he/she is at fault. It is deemed disrespectful in India to refer to an elder by his / her name. Instead people prefer calling them uncle and aunt, especially if the person is very elderly. It is also customary in India for the youngsters to touch the feet of their elders as a way of greeting as well as on important occasions.

'Global 2.0' According to Wharton management professor Stephen Kobrin, regardless of who may be hurt temporarily, lifting millions of people up from poverty is a positive step. "Nobody should have to live on ... $1 a day." The degree to which workers in the U.S. and other developed markets will benefit from the rise of a global middle class will depend on their own level of competitiveness and their ability to move toward new technology and highly skilled jobs requiring better education systems, he says. "The fact that this is a good thing may not mean it's a good thing for the U.S. in the short run, but as the world gets richer, there should be more demand for U.S. products -- assuming the U.S. remains competitive."
Mindful growth is the need of the hour Certainly, it's heartening to see people emerging out of poverty and able to live the good life. However, the growth should not be limited only to pockets of society and the development should be inclusive and mindful of the sustainability of the growth Growing Middle Class It is true that growing middle class will need more to feed. But I am not sure whether changing lifestyle got proper attention here. Rising income in developing nations has shifted demand too e.g. Packed water and Coke in place of plain water, Ready foods at restaurants than cooking at home, Readymade garments instead of buying clothes and getting stitched, Using cars and motorcycles for transport instead of bicycle. Thus this middle class is not only facilitating growth, it is also creating opportunity for new, innovative, trendy and quality products and services. I am also not sure whether raising education level and income directly supports democracy. I think the culture, resource availability and values too play a role. One can easily notice that percentage of educated and middle class is growing in India but reducing their expression and voting desire and same is true in China. Even though some people say that just passing exams is not education in its completeness, it needs more. The effect is also visible in India and China where society is missing their traditional values and corruption is on rise in public life, even though the academic education is on rise. When resources are not enough, people play around personal benefits; perhaps saying of Karl Marx that only Have-nots and Haves can bring revolution is true, as the middle class has something to gain and something to lose, thus they may not be democracy propellant 3 Global middle class - its own force

The article throws up the reality of economic development. When the market grows due to increase in the income level of developed economies, the consumption pattern is somewhat predictable. But if the same thing happens for a developing or underdeveloped economy, it is something very difficult to predict, because of its sheer size and different levels of aspirations. It is also quite encouraging to know that the middle class is getting its due attention and its voice is heard. Growing Middle Class - A question of what is important 7 What's important, is to creat more customers

Clearly, the greatest benefactors of this middle class growth will be the U.S. multinationals. They are more experienced, and have more resources for overseas expansion. Additionally, they have the advantage of English being the international language of business. The Pepsis, Krafts, Procter & Gambles, of the world, currently derive 50% of their sales from overseas, meaning they got to be so big on 600 millions consumers only. Do the math;

with 3 billion consumers they can become 5 times bigger. That's not a stretch, be ready for the multi-trillion dollar corporations to rule the world. Middle class: strong yet sensitive The eagerness of consumerism is he catalyst for the emerging economies' middle class growth. People are puting their income in branded products rather than piling it up in their saving accounts. This can be clearly seen with plain eyes as you walk down the shopping malls both in China and India, and even elsewhere such as Brazil, Russia, and Indonesia, particularly in growing cities, where the showcase of wealth and fortunes is put at the first priority. The growth of spending consequently results in outstanding economic performance of the countries. However, this sector of class is unfortunately also very sensitive to financial shakes such as escalating inflation and the credit squeeze. When the downturn comes, the middle class' economic power fades as the consumers tastes lose their sharpness acutely to the soaring staple needs. And, as we may have seen the latest figures of this and next year's growth forecasts for those emerging markets, it's slowing down quite significantly compared to previous years, though not to the negative point, just as elsewhere in the other part of the world.

ABOUT THIS REPORT Consumer Lifestyle Reports in India provide current and detailed snapshots of the unique behaviours, attitudes and spending patterns of consumers in India. In addition to covering important core topics like household disposable income, consumer expenditure, savings and credit and housing and home ownership, this report also contains hard-to-find statistics on more specific consumer-related topics like eating and drinking habits, shopping habits, preferred types of stores and retail venues, clothing and fashion trends and descriptions of how consumers spend their leisure and recreation time. A consumer segmentation section in the report breaks down the Indias consumers by specific age groups, ranging from babies and infants to pensioners; highlighting the factors that influence purchasing decisions and the products in greatest demand for each segment. Amongst other information, the Consumer Lifestyle in India report includes the following:

Five most important trends currently affecting consumers in India Break-down and analysis of the Indias population statistics, discussing such key factors as age, ethnicity, education and income and their effect on consumer markets Households segmented and analysed using a wide range of factors, such as number of occupants and with or without children Detailed statistics and forecasts on activity in core categories of consumer expenditure such as housing, food and drink, transport, leisure and recreation and communications, as well as expenditure in categories like cosmetics and toiletries and consumer electronics Identifies key distribution channels and shopping trends in major product sectors Describes current fashion trends (many often unique to the country) as well as attitudes toward personal appearance, health and wellness and beauty that influence patterns of consumer spending Reveals what consumers in India do when they stay in, go out, seek out entertainment, and go on holiday Provides insight on the impact of technology, both in the home and while on the move

Use the Consumer Lifestyle in India report to answer questions including:

In what types of stores do consumers shop for food and drink? Do commuters drive cars to work or take public transport? How do ethnic groups influence consumer preferences and expenditure trends?

How many households own microwave ovens? Personal computers? Refrigerators? On the whole, are the Indias consumers spenders or savers? Where do consumers go on holiday and how much do they spend? How well are consumers served by the Indias healthcare system?

Buy Consumer Lifestyle reports to:

Get a quick, clear and comprehensive understanding of consumer trends, attitudes and behaviour in India with relevant data conveniently laid out in a single, easy-to-read document Immediately gain hard-to-discern insights from local analysts into the factors that influence daily decision-making processes of India consumers as they shop for and buy needed products and services Save research time and effort by quickly identifying unique (or in some cases similar) consumer attributes and characteristics that explain the demand for specific products and services in India

Quickly grasp the dynamics and direction of Indias retail distribution network in order to understand how manufacturers and distributors get their products to consumers

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