Rural India is showing dramatic shift in share of wallet and is fast catching up with urban India in spend trends.
Share of Wallet – Rural India
Rural India spends the maximum share of wallet on Food – a whopping 55% followed by 10% on travel. The lowest share of wallet goes to housing and health – a mere 4 and 5% respectively.
Share of Wallet – Urban India
The Urban Indian consumer however spends only 45% of his wallet on Food and Beverages. This is also a reflection of the higher incomes of the urban consumer. There is also a significant difference in spend on education between the urban and rural consumers – the urban Indian spending 9% of his wallet on education while the rural consumers spends only 6% on education.
Source: Max-NCAER,2007 ET072010
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A fact that brands had failed to address in several categories.
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