NEW DELHI: Smart marketers pride themselves of fishing where the fish are! And if you ask, they’ll also tell you that in market planning, a hazy picture of the future is perhaps more valuable than a clear snapshot of the past.
For instance, wouldn’t it be nice if someone can play clairvoyant and guide all marketers, big and small, on the big growth cities for ’07-08 to focus their marketing spends on? If that’s your query, we suggest you focus, yes, on most big metros such as Delhi, Mumbai, Bangalore and Chennai, but also the big potentates in Jaipur, Thiruvananthapuram, Chandigarh, urban areas of Rangareddi and North 24 Parganas, Surat and Coimbatore.
Delhi is not just the biggest consumer market in India, at an annual consumer spend at Rs 64,039 crore, but it is also No 1 on the top 10 list of growth in absolute consumer spends for ’07-08 compared to ’06-07. Consumers in Delhi will spend
If that doesn’t sound appetising enough, how about this: the city-state will add a Vishakhapatam (total market size Rs 6,501 crore), or combined markets of Patiala and Udaipur (Rs 6,561 crore) to itself in the next one year itself!
And mind you, we haven’t counted its booming suburbs of Gurgaon, Ghaziabad and Faridabad, a subject for the second part of this three-part ET series on ‘Cities Of Growth’ in exclusive partnership with New Delhi-based Indicus Analytics’ City Skyline of India ’06.
Number two on our top 10 absolute growth list, Mumbai, with Rs 4,802 crore additional consumer spend in ’07-08, will add another Goa (total consumer market Rs 4,795 crore) to itself next year. Bangalore, Thane, Pune, Ahmedabad, Chennai, Hyderabad, urban areas of North 24 Parganas and Jaipur make up the rest of the top 10.
Outside the top 30 cities, the biggest growth drivers next year will be Thiruvananthapuram (Rs 627 crore additional consumer spend), Chandigarh (Rs 609 crore) and the urban areas of Rangareddi (Rs 596 crore). “The revival of the manufacturing sector in the last 3-4 years is propelling many second rung cities into the big league,” says Arvind Singhal, chairman, KSA_Technopak.
He’s bang on, for a wider scattering of consumer buying power across the country owes as much to the surfeit of new money from the emerging services sector as to born-again manufacturing in cities like Surat and Coimbatore. “New cities entering the elite consumption club, such as Jaipur and Lucknow, owe their status to better infrastructure here,” says Laveesh Bhandari, director, Indicus Analytics.
A close reading of the top 10 growth markets reveals another interesting observation. Apart from continuing growth in big metros, new sector money from IT, ITES, BPO, and other “intellectually” driven industries is driving the growth of cities like Bangalore, urban areas of North 24 Parganas (such as Salt Lake) and Rangareddi. “It’s the emergence of power of new money from the e-economy,” says marketing consultant Harish Bijoor. Another prominent trend is the clustering of consumer pockets in and around existing big markets.
For instance, wouldn’t it be nice if someone can play clairvoyant and guide all marketers, big and small, on the big growth cities for ’07-08 to focus their marketing spends on? If that’s your query, we suggest you focus, yes, on most big metros such as Delhi, Mumbai, Bangalore and Chennai, but also the big potentates in Jaipur, Thiruvananthapuram, Chandigarh, urban areas of Rangareddi and North 24 Parganas, Surat and Coimbatore.
Delhi is not just the biggest consumer market in India, at an annual consumer spend at Rs 64,039 crore, but it is also No 1 on the top 10 list of growth in absolute consumer spends for ’07-08 compared to ’06-07. Consumers in Delhi will spend
If that doesn’t sound appetising enough, how about this: the city-state will add a Vishakhapatam (total market size Rs 6,501 crore), or combined markets of Patiala and Udaipur (Rs 6,561 crore) to itself in the next one year itself!
And mind you, we haven’t counted its booming suburbs of Gurgaon, Ghaziabad and Faridabad, a subject for the second part of this three-part ET series on ‘Cities Of Growth’ in exclusive partnership with New Delhi-based Indicus Analytics’ City Skyline of India ’06.
Number two on our top 10 absolute growth list, Mumbai, with Rs 4,802 crore additional consumer spend in ’07-08, will add another Goa (total consumer market Rs 4,795 crore) to itself next year. Bangalore, Thane, Pune, Ahmedabad, Chennai, Hyderabad, urban areas of North 24 Parganas and Jaipur make up the rest of the top 10.
Outside the top 30 cities, the biggest growth drivers next year will be Thiruvananthapuram (Rs 627 crore additional consumer spend), Chandigarh (Rs 609 crore) and the urban areas of Rangareddi (Rs 596 crore). “The revival of the manufacturing sector in the last 3-4 years is propelling many second rung cities into the big league,” says Arvind Singhal, chairman, KSA_Technopak.
He’s bang on, for a wider scattering of consumer buying power across the country owes as much to the surfeit of new money from the emerging services sector as to born-again manufacturing in cities like Surat and Coimbatore. “New cities entering the elite consumption club, such as Jaipur and Lucknow, owe their status to better infrastructure here,” says Laveesh Bhandari, director, Indicus Analytics.
A close reading of the top 10 growth markets reveals another interesting observation. Apart from continuing growth in big metros, new sector money from IT, ITES, BPO, and other “intellectually” driven industries is driving the growth of cities like Bangalore, urban areas of North 24 Parganas (such as Salt Lake) and Rangareddi. “It’s the emergence of power of new money from the e-economy,” says marketing consultant Harish Bijoor. Another prominent trend is the clustering of consumer pockets in and around existing big markets.
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