UserConf NYC Welcome & Keynote - The (Coming) Golden Era of Products
The New Age Consumer
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8. Payal wants success today – everyday… and is willing to slog for it Source : Global Monitor 2009 Source : Global Monitor 2009 The Power of Now I AM CONSTANTLY STRIVING TO IMPROVE MYSELF AND MY ABILITIES IN AS MANY WAYS AS POSSIBLE - % WHO AGREE SUCCESS IS SOMETHING YOU CAN EXPERIENCE EVERY DAY - % WHO AGREE
9. Payal wants Instant Gratification – Does not want to wait for anything I AM HAPPY TO HAVE SHORT-TERM DEBT TO ALLOW ME TO BUY THE THINGS I WANT -% WHO AGREE You can get a bank loan and even buy a house anywhere so why should we wait …we want to enjoy our house today… ‘ If people wait for tomorrow then they will grow old and not be able to enjoy life… Source : Global Monitor 2009 The Power of Now
10. Payal wants to be on trend – Not be left behind I'M ALWAYS LOOKING OUT FOR THE NEXT BIG THING IN TECHNOLOGY, FASHION, MUSIC OR ART -% WHO AGREE Recently we bought a diamond ring for me…I am the only one in my Kitty to have such a ring, but the greater thrill was that we saw it and bought it, we did not have to wait to think about the money and all… I have a cell phone with all the latest features…I had the money in hand and I bought it immediately…It feels young and energetic to keep up with the times… Source : Global Monitor 2009 The Power of Now
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12. 750 1100 2000 25,000 3000 4000 5000 10,000 15,000 36,000 150,000 40,00,000 10,000 10,000 Salary of a young executive (INR) Fridge DDA Flat Colour TV 3000 4000 10,000 50,000 20,000 22,000 40,000 2,50,000 20,000 60,000 Two Wheeler Car i Phone Apple Laptop 50,000 LCD TV 1970 1975 1984 2010
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14. So what does Payal and her ilk do to the game? Change the Rules!!
15. Payal is a harbinger of change, but change is all pervasive
16. The changes witnessed in Car Industry Digital is in.. One need not enter only through a “entry-level” car People are increasingly buying “Small-Cars” at the price of a Sedan Car owning households are buying MUVs, as additional cars
17. Digital is in.. One need not enter only through a “entry-level” car People are increasingly buying “Small-Cars” at the price of a Sedan Car owning households are buying MUVs, as additional cars The changes witnessed in Car Industry
18. Digital usage has not yet replaced offline media usage, younger consumers are more frequent digital media users % using at least once a day – India (Global) % using Digital at least once a day – India Coupled with a young population, the potential is huge Source: A TNS Syndicated Research (32) (54) (36) (61) (14)
19. The engagement level of Indian consumers are high. However, usage levels are almost half of the global average PC/ Laptop Mobile India Global Male Female 16-20 21-24 25-34 35-44 45-60 Hours spent on internet per week Source: A TNS Syndicated Research 17.6 9.0 9.3 8.1 7.8 9.0 10.4 9.5 6.8 1.2 0.8 1.0 0.1 1.7 1.0 0.7 0.2 0.2
20. Car Buyers are also using the digital media more than before… Source: Syndicated Total Customer Satisfaction Study
21. The Big Changes Digital is in.. One need not enter only through a “entry-level” car People are increasingly buying “Small-Cars” at the price of a Sedan Car owning households are buying MUVs, as additional cars
22. More people are entering the market by purchasing “Non entry” level cars Source: Syndicated Total Customer Satisfaction Study
23. The Big Changes Digital is in.. One need not enter only through a “entry-level” car People are increasingly buying “Small-Cars” at the price of a Sedan Car owning households are buying MUVs, as additional cars
24. Consumers increasingly purchasing the “small-big” car at the price of Sedan Small car that is packaged with big car feature- Space, safety feature, engine to provide joyful and athletic ride. Also at the price equivalent to Entry level sedan Entry level sedan’s has always has been a symbol of having arrived, or to say status However the emergence of a new segment has added a twist to the tale with it being increasingly associated with symbol of being arrived Average Price: Rs.6 Lakhs Average Price:. Rs. 5.8 Lakhs Total volumes (2010): 2.17 Lacs Total volumes (2010): 2.18 Lacs
25. Car owning households are buying MUVs, as additional cars Percentage Source: TNS Syndicated Total Customer Satisfaction Study
26. Page Who owns a SUV/ MUV as a additional car? Entry & Premium Compact-52% Entry & Regular Midsize-18% Premium Midsize- 6% SUV / MUV- 21%
27. Purchase Behavior – Across Years 2009 Page 2008 2007 A higher incidence of buying the second household car