News Broadcasting
Consumer spending up 9.6 per cent, says KSA study
NEW DELHI: The pessimistic outlook on the retail and fashion segment seems to have turned into a positive one. The Consumer Outlook study conducted by KSA Technopak, India’s leading management consulting firm specialising in the fashion and retail industries, shows that consumer spending in the year 2002 has gone up by an impressive 9.6 per cent compared to the previous year which showed a decline in spending.
The findings of the study was shared during the ongoing fifth KSA retail Summit, organised by KSA-Technopak, in Mumbai on 10-12 February 2003. KSA-Technopak is India’s leading management consulting firm specialising in the fashion and retail industries.
Consumer Outlook is a strategic annual tracking study on consumer’s shopping and spending behaviour across categories conducted by KSA Technopak.
KSA Technopak officials also announced that the growth implies a phenomenal rise in market opportunity for retailers, estimated to be in the region of Rs 150 billion among the SEC A and B categories in urban India alone. The five main key drivers for today’s consumers, according to the study, are enjoyable shopping experience; value for money; product quality; fashion attributes and saving time.
A large percentage of consumers said they enjoyed shopping to the extent they were willing to drive further for a pleasant and better shopping experience. Consumers also showed preference for shops offering special schemes or sales and were keen on products that are trendy and in with the times. A large number of consumers said shopping was a need-driven exercise which they preferred to do at outlets where they could save time.
Announcing the results, KSA-Technopak principal and associate director Harminder Sahni says: “These insights can be transformed to opportunities for retailers. Clearly, retail outlets that would succeed are those that, in
addition to offering quality products, also build enjoyment into every part of the consumer’s shopping experience; create an ambience by effective use of merchandise display techniques; offer quick and efficient service; reward
the customer for loyalty; and use a combination of promotional schemes and offers to attract the customer.”
According to the study, after a sluggish growth in 2001-02 when difficult market conditions forced people to tighten belts, almost all the categories in the Indian retail sector have bounced back. Among these are footwear, apparels, apparel accessories, home textiles, entertainment, books and music, among others.
This is not to say that consumers are spending more than they are saving, for the study reveals that savings and investments have also gone up by a substantial percentage. Brown goods and personal care items purchased for self showed a decline in growth.
However, various categories continue to vie for the share of consumer’s wallet, with food reigning over other categories. Consumers spent more on groceries and eating out than on other categories and this trend has been consistent over the last five years that KSA Technopak has undertaken the Consumer Outlook study.
Announcing the outlook for 2003, Harminder Sahni says: “This year, 41 per cent of consumers have declared they will spend more in 2003 than the last, while 48 per cent expect they will spend at least as much as in 2002. This
spells good news not just for retailers, manufacturers and suppliers but also for consumers who continue to benefit from the many choices on offer and the increased competition for a share in his spending rupee.”
The Consumer Outlook 2003 study was conducted by random sampling of 10,000 respondents in the 15 to 58 year age group in the SEC A and B categories in 20 cities across India. The Consumer Outlook study is a consumer-behaviour based tool used for devising consumer-centric strategies and is based on research across categories such as apparel, accessories, consumer durables,
books and music and personal care items.
KSA Technopak (KSA T) is a joint venture company with Kurt Salmon Associates (KSA) in India. KSA is the world’s largest management consultancy, specialising in consumer goods and retail sectors. Based in New Delhi, with an industry experience of over 10 years and a strength of 50 consultants, KSA T has an in-depth understanding of the Indian consumer products industry and a unique vision of its future.
Comprehending the needs of the fast changing retailing milieu, it formulates company strategies, augments business processes and develops systems to effectively manage change. KSA T has successfully aided India’s leading retailers & suppliers in the areas of business planning and strategy, retail operations and supply chain management.
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News18 hosts Tamil Nadu town hall ahead of 2026 polls
MK Stalin headlines ‘Next Big Leap’ event from 10am on 23 February in Chennai with leaders and icons.
MUMBAI: Tamil Nadu’s political pot is simmering and News18’s town hall is stirring it up just in time for the 2026 assembly elections boilover. Set for 23 February from 10am onwards in Chennai, the News18 Network Town Hall gathers heavyweights under the banner ‘The Next Big Leap for Tamil Nadu’ to dissect the state’s political pulse, economic edge, and cultural clout. With the 234-seat assembly contest looming as a fiercely competitive showdown, the event spotlights how Tamil Nadu’s identity-driven politics and engaged voters continue to ripple across national debates.
Chief minister MK Stalin leads the charge with a keynote on the theme, sketching his government’s blueprint for governance, development, and staying power pre-polls. Deputy Chief Minister Udhayanidhi Stalin chimes in on ‘Voices, Vision & Way Forward’, unpacking generational shifts and fresh narratives. From the opposition corner, AIADMK general secretary Edappadi K Palaniswami tackles ‘Baton Change at the Ballot?’, floating alternatives to the status quo.
Economic vibes get a nudge from industries minister TRB Rajaa on ‘Investment Story Intact?’, probing the state’s draw for big bucks. BJP’s K Annamalai dives into ‘People, Trust & Political Ideology’, positioning his party in the Dravidian-dominated turf. IT Minister Palanivel ThiagaRajan explores ‘Code, Capacity & Citizenship’, on tech’s role in citizen-focused services. TVK’s KG Arunraj questions if ‘Winds of Change are Possible’ in this pattern-prone state.
A panel on innovation features IIT Madras director Prof V Kamakoti, M&M’s Velusamy R, and Electronic Industries Association’s Dr Sasikumar Gendham, musing how AI and knowledge hubs are remaking opportunities. AICC’s Praveen Chakravarty weighs ‘Power Sharing vs Principles’, while former Governor Tamilisai Soundararajan joins the fray. Culture gets its due with composer Anirudh Ravichander on ‘Tamil Music for the World’.
CNN-News18, editorial affairs director Rahul Shivshankar noted, “The News18 Network Tamil Nadu Town Hall… reflects our core editorial focus, to capture the political mood of the state and spotlight the ideas that will shape the next phase of governance and growth.”
Network18, CEO of English & business news Smriti Mehra added, “As Tamil Nadu moves closer to a defining electoral moment… we see it as our responsibility to drive informed and meaningful conversations.”
Network18 managing editor for South, Vivek Narayan said, “The News18 Network Townhall in Tamil Nadu is designed as a platform where policy, politics and public interest intersect.”
Backed by associate partners Tata Motors Commercial Vehicles and Reliance Industries, the live event streams on CNN-News18, News18 Tamil, CTV, and Youtube from 10am on 23 February perfect for catching the sparks, even if you’re not knee-deep in Dravidian drama.
