Demand for unbranded products on a rise: survey

Economic instability led to people shifting to unbranded products to save money

They say India is a price sensitive market and one has to market the brand very precisely to connect with the consumer otherwise results would not be very positive. Also the fact that macro economic conditions have not been very bright for the past several months and that has witnessed into the sales of several brands going down so far and more  people are going for unbranded products to save money.
 
A recent survey conducted by Credit Suisse has shown that demand for unbranded products has gone up in 2012 after it decreased drastically in the year 2011.

While 2011 survey showed Indian consumer becoming more brand conscious, 2012 saw a trend reversal, the report said.

According to the report  major brands like Bata and Jockey saw declines in demand in 2012.

While denim major Levis showed flat growth, leading inner wear brand Jockey has seen its brand demand going down below 20% in 2012. Shoe major Bata saw one of the highest falls as growth in brand demand hovered around 10% compared to over 20% in 2011.

According to reports, Levis had also scaled down its retail presence. Demand for unbranded apparels, sports shoes, watches and perfumes took a northwards journey in the year 2012

Over the long term, the trend of shift from unbranded products is expected to continue with fewer respondents wishing to stick to unbranded products in the future. The jewellery segment is a case in point. The market is primarily unbranded and highly fragmented. However, with the entry of of several organsed jewellery retailers, there has been a market shift towards branded jewellery, the report added.