The top end of over 7 lakh people out of India's population of over one billion is estimated to have individual liquid wealth of about $1,00,000 (Rs 44,13,000) which is likely to go up to $1.1 million by 2009.
This represents a cumulative liquid wealth of $203 billion, estimated to go up to $322 billion by 2009. These are the findings of a recent study done by market research firm Synovate.
A Pan Asia Pacific Cross Media study by Synovate across 11 countries in the region highlights the changing spending patterns of the affluent consumers. The study tracks the changes in the spending patterns of consumers, comprising the top 27.5 per cent of the pyramid.
Overall Internet access in Asia has gone by 30 per cent in 2005 over 1997, with access levels in India having gone up 132 per cent during the same period.
While laptop ownership in the region has gone up 225 per cent, for India it is far lower at 10 per cent.
Similarly, desktop ownership has increased 36 per cent in India as compared to 45 per cent in Asia. This discrepancy provides a large opportunity for marketers to tap into, says the study.
- Overall internet access in Asia went up 30 per cent in 2005 compared with 1997, with access levels in India surging 132 per cent.
- While laptop ownership in Asia zoomed 225 per cent in 2005, India saw a rise of only 10 per cent.
- Desktop ownership increased 36 per cent in India compared with 45 per cent in the region.