As we look to the future, the only thing that is clear is that the pandemic has redefined existing notions of “what is essential.” Since most people meet their professional and educational needs at home, electronic devices, smartphones, computers and wireless devices have become essentials for work and study.
Over the next decade, India is expected to become the third largest country in terms of consumer spending. Meanwhile, India will also become an increasingly value-driven economy, with almost 75% of consumption driven by a middle class population who need to see a strong value proposition for their business decisions.
How businesses adapt to the changing needs and purchasing behaviors of consumers will determine the pace of recovery and future growth. It always has been, but the Covid-19 pandemic has brought about profound changes on both fronts, and it will be interesting to see how they guide business decisions and innovations going forward.