As a second wave of the Covid-19 pandemic is taking hold of Europe, the European Union, with its high welfare and healthcare standards, seems to be able to withstand it better than the US.
But if in terms of public health this may be true, in economic terms EU politicians and policymakers should use this once-in-a-lifetime opportunity to understand that the EU risks falling behind the US and China — and to take measures to prevent that.
The rural consumption opportunity (including the non-metro towns) has been a common topic of discussion in several investor conferences in India recently. However, one is largely dependent on literature written from the financial centres, with limited primary visits into the hinterland.
This limits the content’s practicality, given the heterogeneous rural landscape. Moreover, the standard demographic approach to segment rural consumers may be misleading, since their behaviour is impacted by several realities, not just demographics.
Why they buy as they do, and how they behave when it comes to buying, are questions that on-the-ground observations can help understand better. Using my own experiences from visits made into the interiors of Bangladesh and India (Uttar Pradesh, Punjab, Gujarat, Tamil Nadu, Himachal Pradesh, J&K, Kerala, etc), I have my own understanding of local people in these places, and I feel the 10 segments below may be useful to categorize the rural consumers across heterogeneous regions.
“Knowledge First” is the corporate mantra of the company I work for – Motilal Oswal Financial Services Ltd. Among the various knowledge-sharing initiatives of the company, one involves bringing senior leaders from corporate India to come and share their learning and experiences. Corporate leaders bring valuable insights that their companies’ annual reports would not often contain.