A Note on Consumer Spending Patterns in India
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Spending habits are different for people
belonging to different sections of society. For instance, people
belonging to the middle class consider basic necessities and
education and spending toward the future of their children as
their top priorities, followed by lifestyle goods. The rich
class spends more on luxury goods and international brands. The
super rich class spends on ultra luxury goods. It is observed
that as disposable income increases, people prefer more of
branded goods, shift to processed foods, and the expenditure on
food, beverages, tobacco, and transport and communication also
increases. A comparison of consumer spending habits in 2002 with
those in 2007 revealed that expenditure on food, clothing and
personal care has remained more or less constant, but
expenditure on entertainment has increased.
Consumer spending, India Economy, Growth, Financial Services Sector, Credit Card, Debit Card, GDP, Asia, China, Excise duty, Government, National Sample Survey Organization, KSA Technopak, Household Expenditure, Disposable Income
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