With net disposable income on the rise, consumerism is growing rapidly, say experts at the recently concluded management conclave at Nirma Institute of Management here.
Speakers for various sessions during the conclave emphasised the need for evolution of business models surrounding the dynamic consumerism among Indians.
“The net disposable income in India is going up. Indians have started to spend more and save less, yet there is no vulnerability to the Indian consumers,” said Sunil Khiani, associate director, Nielsen Company. He also spoke on the strategy of a new product development in India as well as future scope in women-centric and well-being products.
“The speed of change is exponential,” said Divyesh Desai, marketing manager of Hazira LNG Private Limited, who talked about the changing face of consumerism by stating the increase in parity of women at work and children becoming target markets. He traced the gradual development from the past to the future in the fields of telecom and entertainment, to help students develop an understanding how business models evolve.
Titled ‘Prayag 2010’, the conclave organised by the Institute of Management, Nirma University, provides a platform for budding managers to interact with various experts from diverse industries that range from healthcare, media, telecom to oil and gas.
Ashok Kumar, Cisco, discussed ‘Socialonomics’, the networked world and the growing power of Internet in the next decade. Kumar gave an example of Facebook which, if it were a country, would be the 4th largest in the world.