MAKING MEMORIES: Indians want memorable experiences more than material possessions
By Fawzia Moodley:
The Durga Puja festival has been incorporated into India's experiential economy. (Image: PIB)
A burgeoning and sophisticated middle class with increased disposable income and a worldly outlook has given impetus to India's experiential economy. Increasingly, India’s consumers are seeking memorable experiences rather than focusing on material possessions and opulence.
The younger generation is driving this change, reshaping consumer behaviour and creating new opportunities for businesses focused on live events, entertainment, travel, food and drink, and arts and culture. Gen X and millennials, particularly, are seeking new, exciting, and engaging experiences, driving the exponential growth of India's experiential economy, with the Event and Ente...