Synovate, a global market intelligence company, in its latest Synovate PAX Media Survey has revealed that affluent Indians spend on goods and products that make a personal statement – designer clothes, jewellery and digital products. They are also slowly adopting various fitness methods. The results for 2006 show that India’s elite are being choosy about what they spend on.
The Synovate PAX survey tracks media, prosperity and influence in 11 markets across the Asia Pacific region – Singapore, Hong Kong, Korea, Malaysia, Thailand, Indonesia, Philippines, Taiwan, India, Australia and Japan.
As part of the survey, ownership and buying intentions for a range of products are
continually tracked across the markets. In addition, attitudes towards media and brands and lifestyle information are included. This information gives media organisations and agencies greater insight into what’s driving affluent Asians at any particular time, which ensures they make savvy advertising and marketing decisions.
Synovate PAX also delves into people’s attitudes to brands and advertising via a series of
psychographic statements. The findings reveal that trust in advertising has grown by 4 per cent over the PAX period and 28 per cent of India’s affluent now agree that they have great trust in products they have seen advertised.
Synovate Global Head of Media, Steve Garton, noted that the affluent Indians were spending on quality contemporary products, doing more of leisure travel, turning sporty and battling the bulge. He said, “If we look at the purchase intentions of affluent Indians, buying a new car is at the top of the shopping list followed by state-of-the-art electronic products such as LCD/ plasma TVs and Laptops/ Notebooks.”
He added, “Interestingly, as noticed across the Asia-Pacific region, India, too, sees a substantial increase in leisure and pleasure activities. Elite Indians have become more outdoor focused with cinema, music concerts and sports all consuming a major chunk of their time.”
India’s affluent have shown an increase in their leisure travel. During the year affluent
Indians who took one or more leisure trips increased by 16 per cent from 3.2 per cent to 3.7 per cent; the number of people taking three or more leisure trips saw an increase of a whopping 200 per cent from 0.1 per cent to 0.3 per cent. India’s elite owning handheld PCs or personal digital assistants (PDA) has seen a jump from 3.2 per cent to 6.7 per cent – a growth of 109 per cent. Ownership of mobile phones with internet access has grown from 12.3 per cent to 13.7 per cent. The ownership of LCD or plasma televisions has grown from 1.7 per cent to 3.5 per cent – an impressive106 per cent increase.
Ownership of luxury goods has seen an increase from 15 per cent to 19 per cent. Those who own luxury jewellery ($500+) now stands at 17 per cent of affluent Indians.
India’s affluent are increasingly turning health conscious and fighting obesity to the hilt.