Post 1991, the mindset of the Indian consumer underwent a sea change. Liberalization made the Indian consumer a king and there was a much larger basket of goods and services he could choose from. It was first the value for money brands which succeeded in the Indian market and now with the increased wealth creation even highly priced lifestyle products and services have found a place in the Indian psyche. The same Middle Class family which saved for buying a television, air conditioner and fridge can now afford all in the same month due to ease of credit and flexibility of EMIs.
To sum up, discerning social economic trends leading to a change in the mindset of the Indian consumer have led to:
1) increased wealth creation
2) higher aspiration lifestyle goals
3) market linked avenues for investment such as equity markets
4) uncertainty of investment returns due to inherent volatility in the asset class
5) much lesser time to manage the above
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