By Shivam Puri
Consider the average Indian consumer. If we were to dissect a typical day in the life of the new-age consumers, it would likely begin with a quick scroll through social media, perhaps followed by a workout video and a healthy breakfast. They juggle multiple responsibilities at work, stay connected digitally, and unwind with online shopping or streaming services. This lifestyle is a stark contrast to how it used to be even a decade ago. With increased digital penetration, the consumers are now not confined only to the regular ‘Roti, Kapda aur Makaan’ ideology. Their needs have evolved with access to technology, with smartphones and internet connectivity becoming an integral part of their daily routine.
A significant shift is also taking place beyond India’s metropolitan cities. Today, we are witnessing the consumption patterns and lifestyle aspirations of the semi-urban population, converging with those of urban India, seeking a convenient and healthy lifestyle. Born into an era of abundant choices and constant connectivity, consumers, even in tier 2-6 markets, are increasingly discerning. Internet connectivity has given birth to aspirational buying, leading to premiumization in these markets. Premiumization in India is a rising trend only amongst the affluent 20% of the population. However, on the flip side, the other 80% of the total consumer base cannot afford high premium products due to pricing hurdles, despite growing income.
For businesses, the challenge is twofold: to meet the demands of the top 20% while simultaneously addressing the affordability concerns of the broader market. This requires a strategic and nuanced approach, developing a diverse portfolio that caters to both premium and cost-effective segments. Understanding the diverse consumer segments, from affluent urbanites to aspirational rural dwellers, is crucial. As India continues to add to its growing middle-class population, businesses have a golden opportunity to tap into new demographics with products and services that balance premium quality with affordability. The rising aspirations of these consumers suggest that what may seem like niche markets today, could become significant categories tomorrow.
In recent years, the shift towards healthier living has gained significant momentum, with consumers increasingly focused on long-term well-being. The COVID-19 pandemic further amplified the importance of preventive healthcare, prompting people to re-evaluate their lifestyles and the health choices that impact their futures. Post-pandemic, consumers are focused on wellness, regular exercises, consuming nutrient-rich foods and supplements, early diagnostic tools, and personal health tracking. This growing emphasis is mirrored by the rapid expansion of the preventive healthcare sector, which is projected to reach $197 billion by 2025, at an impressive compound annual growth rate (CAGR) of 22%. Such growth highlights how consumers are not only more health-conscious today but are also actively seeking solutions that enable them to take charge of their well-being proactively.
Indian consumers are increasingly viewing wellness as a holistic concept, where mental and emotional health are just as important as physical fitness. This shift is shaping daily routines, from how people eat to the lifestyle habits they adopt. Brands in the smoking cessation space have a unique opportunity to align with this broader definition of wellness. No longer just about ‘quitting smoking’, the category has evolved to offer support for mental and emotional well-being, providing tools that help ease stress and improve focus during the quitting process. These brands are positioning themselves as partners in the wellness journey, rather than just product providers. By tapping into these consumer insights, brands can create habit-centric solutions that integrate seamlessly into daily life. Smoking cessation can be marketed not only to improve physical health, but also as a step towards better mental clarity and emotional balance, helping consumers achieve a more holistic sense of well-being.
In this complex and dynamic landscape, building a strong, differentiated brand identity is not just a luxury — it’s a necessity. Consumers have become more discerning, looking beyond mere marketing buzzwords to find products with clinically proven benefits. Brands need to make a real difference in consumers’ lives, providing solutions rooted in science while also appeasing consumer preferences regarding flavour profiles, convenience, and pricing. Merely increasing awareness levels might not suffice; consumers, now faced with an overload of information and countless options, require guidance in making the best selections. Along with product quality, efficacy and innovations in taste & packaging, storytelling, and brand purpose, building trust and forging emotional connections, are essential elements to capture attention.
As consumers continue to increase their spending on personal health, appearance, fitness, lifestyle, and more, it is evident that wellness is here to stay. The winning combination of conventional wisdom and cutting-edge technology will create a distinctive and diverse wellness ecosystem that offers consumers a wide range of products and solutions. By leveraging technology, brands can offer personalized health solutions, facilitate online access to products, and engage consumers through apps, virtual consultations, and interactive content, seamlessly integrating into daily wellness routines.
India is changing faster than ever. The way people live, work, and spend is undergoing a massive overhaul, with self-care and wellness becoming central to this transformation. As brands, we need to anticipate and focus on becoming the right partner for consumers and equip them to take more control over their well-being and make it a way of life. The future looks incredibly promising, and the health and wellness sector’s positive effects on the country’s well-being will be significant.
The author is managing director and CEO, Cipla Health Limited. (Views expressed are the author’s own and not necessarily those of financialexpress.com)