Newspapers in the last few weeks have been early morning reminders of the deteriorating and dysfunctional economy. So Maud Pansing's interview in Economic Times was a pleasant read as it spoke about the evolving consumers in India, their willingness to loosen their purse strings and importance of brands in their lives. These non compromising consumers and their loyalty towards their products born out of their need to feel good is indeed a rising phenomenon.

According to Pansing, people want to look and feel good when the economy goes down. In my opinion, the endeavor to look good is not just a result of a downward spiraling economy. It is becoming a norm in most cases. Indians have grown conscious of the way they project themselves. Increasingly, women have been investing a part of their income into grooming.

A deep dive into the Indian fashion / cosmetics market elaborates on the different consumer portraits especially in the fashion category.

The status seeker:
These are the individuals who emphasize a lot on the external appearance. For them, the brands that they choose reflect their personality. It is of utmost importance to look good in the eyes of the world in order to feel good. Flaunting brands is the key to pacify their need of belonging to the aspirational class.Their efforts could at times make them seem attention seeking but to them, dressing in the right manner and owning brands is their way of differentiating themselves from the majority population. They feel that their projection of themselves will elevate their position in the society. Therefore they will be seen buying original brands, driving fancy cars, carrying fancy handbags and aspire to own bigger brands. Awe and admiration is what they seek from the society

The need driven:
These individuals focus on the utility of the product. Their purchases are solely driven by their requirements and they do not indulge in frivolous spending. They do not shop in order to project themselves in a certain manner. According to them their confidence levels are not determined by their external appearance. Their rationale is extremely simple and straight forward 'I will buy it only if I need it'. They need products which help them feel organized, meet their requirements and are cost effective. They are the marketers worst nightmare!

The essayer:
They indulge in variety in order to project themselves in a specific manner. These individuals hold similar beliefs like the status seekers. However, unlike status seekers, brands do not entice them. For them it is important to look good but brands are not their sole aids. They will buy products which are used by majority they know or fit into their price cap. They believe that one can look good without spending too much. Their preferred choices are mid ranged brands, or it could even be a first copy of a leading brand. Originality is not a factor that plays a crucial role but the end result of the products used has to be desirable. The main difference in the status seekers and essayers is that status seekers attempt at being different from the rest while essayers try hard to be a part of the majority. Their needstate, here, is to come across as more confident. Acceptance and appreciation by others like them is their objective.

The rationalizer:
Every buyer rationalizes his or her impulse purchases in order to pacify the superego. However, these individuals tend to rationalize their planned purchases as well. They might come across as confused shoppers but actually, in their minds, they are always calculating the pros and cons. There is a continual effort to establish a connection between their needs and products shortlisted. I recall a shopping trip with a friend who wanted to buy gym wear. After walking into every possible outlet, he chose 2 shorts - a black and a white with the exact same print on the right hand lower corner. He knew he needed a minimum of 2 shorts. Yet he spent 10 minutes debating on which one to buy or would it make more sense to buy both. To him, buying the similar pattern in two shades seemed pointless but his rationale was that he needs 2 shorts and buying two different shades will give him the liberty to use different colored t-shirts. Rationalizers thrive on the support from co-shoppers - a nod or an approval - as this helps them convince themselves of the ingenuity of their purchase.

The maximizer:
They are the ones who seek quality and variety at a lesser cost. They believe in value for money products. They prefer buying products which look expensive but are reasonably priced. Brands and stylish products do play an important role but whether the brand or the product is worthy of the price quoted is of utmost concern to this set of people.

Of the aforementioned consumer categories, the need driven is the least fashion conscious. However, style though a subsequent parameter, seems to be grabbing attention of the need driven as well. Utility remains to be the primary requisite but these utlity seekers are also veering towards products that are visually appealing to some extent.

The consciousness about fashion and the desideratum to make an impression has seen an upward trajectory. The rise in literacy, professional opportunities & avenues and accessibility of international brands has worked in favor of marketers as more and more people are consciously purchasing branded products. Owing to the rise in mass affluent and emerging affluent class, marketers are capitalizing on the opportunities to sell affordable luxuries making India one of the developing markets in beauty, healthcare and fashion...