Deepak's Musings #141: Eight Consumer Economies of the Future

🇮🇳 Guess what? India’s new rich are nothing like the old

Author

Deepak Shahdadpuri
March 19, 2024

All things consumer & insurgent brands. What I am currently reading, thinking about, and reflecting upon. You can follow me on Twitter at @dishahdadpuri or follow DSG Consumer Partners at @dsgcp.

p.s. You can click any summary link to read the full article from its source.

🔮 Eight Consumer Economies of the Future

I found this research from Bain & Company’s Consumer Lab fascinating. It attempts to analyse trends, and layer on macro forces that will reshape how humans as a society will change and therefore what new unmet consumer needs may be created. The consumer of 2035 will be different from the consumer of 2024 in the same way the consumer for today differs from that of 2014. This is a must read for anyone interested in the dynamics of consumer needs.

Beyond Trends: Eight Consumer Economies of the Future

Global macro forces and deep societal changes will unearth rich opportunities and pose new challenges by 2035.

🥂 Are Indians drinking less?

This is what The Ken is arguing based on data from the Government of India’s National Family Health Survey 5, 2019-2021. Global data does indicate that consumers are drinking less but I was not expecting that in India.

Are you ready for a deluge of “0% alcohol” drinks?

According to the data, only 23% of Indian men between the ages of 15 and 54 surveyed by the government in 2019-21 admitted to drinking—from less than once a week to every day. Four years earlier, that figure was 30%.

🇮🇳 India’s new rich are nothing like the old

From The Economist.

🇮🇳 India is becoming wealthier each year.

🇮🇳 Indians are more spread out. Indians no longer need to live in top-tier cities like Mumbai, Delhi or Bangalore. Driving this geographic diversification of wealth is India’s improving physical infrastructure.

🇮🇳 They are younger! Where India’s rich might once have had a median age above 50, 40- and 30-something millionaires are now common.

🇮🇳 The new rich are investing and consuming like never before.

Inside the world of crazy rich Indians

The new wealthy elites are younger and more adventurous than the old lot

🧘🏼💪 Food & Wellness Trends 2024

The latest consumer report published by The New Consumer and our friends at Coefficient Capital just dropped in time for Expo West.

Please note this is based on a survey of 3,000 Americans so it is US-centric. How much of this applies to India and Southeast Asia is a question.

🧘🏼 25% of Americans think they aren’t eating enough protein
🧘🏼 More Americans are aware of Ozempic vs Lipitor
🧘🏼 Americans are eating more berries, greek yogurt, chips and chicken
🧘🏼 'Longevity’ isn’t just about living longer — it’s about living better while you’re alive

Lots more interesting data in the report.

Consumer Trends Food & Wellness Special Report 2024

What do Americans say they want to eat? What are they actually eating? A 56-slide special report, just in time for Expo West.

🛎️ Building a culture of experience

This piece from McKinsey is focused on the hotel industry. But the message is applicable more broadly. We are living in an era where consumers want experiences and not things. Brands need to keep that in mind. One brand that stands out to me is India’s Postcard Hotels. Check it out.

How the world’s best hotels deliver exceptional customer experience

Luxury hotels know that the secret to top-tier customer experience is a culture of excellence.

🥜 Portfolio snapshot: Farmley

Why Farmley has overinvested in building its upstream capabilities, working with farmers and having its own production facilities.

Organic munchies: Why Farmley has turned to farms for healthy snacking

Delhi-based D2C startup Farmley focuses on providing unadulterated dry fruits and nuts sourced by establishing deep back-end linkages with farmers.

 🍻 Portfolio snapshot: Brewlander

DSG Consumer Partners partnered with John Wei in 2019 to create one of ASEAN’s leading craft beer brands Brewlander. John never thought he would turn his passion for craft beers into a career until he did. Read about his journey in the latest issue of Tatler Asia.

Brewlander’s John Wei wants to “make beer sexy again”—here’s how he’s building an empire

The future is bright for Wei and his brewery. Through his unique beer offerings, he hopes to shed the stereotype that beer is a “boring old man’s drink” and make it more appealing to the younger generation of drinkers.

Select funding & deal news

Funding and deal news that caught my attention this week

Hospitality Brand Quorum Club Raises Pre-Series A funding from Gruhas

With the latest funding round, Quorum Club's upcoming target markets include Bengaluru, Goa, and another sixth club in Delhi over the next few years. It is also looking to expand its co-working portfolio under The Business Quarter (TBQ) brand.

Good Glamm Group secures $30 million in funding at flat valuation

The latest funding in Good Glamm was led by US-based Warburg Pincus, which invested Rs 129 crore in funding, while Prosus, Bessemer India and Accel Partners put in Rs 95 crore, Rs 12 crore and Rs 8 crore, respectively.

Brand analytics platform GobbleCube secures $1.9 million led by Kae Capital

With the fresh capital infusion, Gurugram-based GobbleCube is planning to strengthen its product engineering capabilities and focus on its go-to-market strategy, initially targeting India, Southeast Asia, and the US.

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