Exploring Consumption Patterns &Growth Implications- A Descriptive Study ofLower Income Classfrom Mumbai.
Journal Title: IOSR journal of Business and Management - Year 2018, Vol 20, Issue 4
Abstract
The lower income group of India continues to allure interest from policy makers and businesses both domestic and global. Although there have been recent concerns on GDP growth rate, declining exports and sluggish consumption, it still seems that an economic recovery is just around the corner. This research aims at understanding consumption patterns of the lower income group in Mumbai city. The study has been conducted in the latter half of the year 2017 after demonetization and GST effects seem to have been nullified. Data from a structured questionnaire were analysed. The study entails some of the major consumption heads like food, energy, electronic appliances, educational services, accommodation, transportation, healthcare etc. It was found that there is a huge demand for quality products in the lower income group. Also, they have a considerable purchasing power. As such there is an opportunity for marketers, financial institutions and policy makers. There is a rising need for product innovation, resource mobilization and house hold saving augmentation for this group. This is imperative to achieve economic growth which is robust, self-sustaining and inclusive.
Authors and Affiliations
Ms Anshu Singh
Keywords
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- EP ID EP410258
- DOI 10.9790/487X-2004067486.
- Views 47
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