THE EXPERIENTIAL ECONOMY
In a landscape where change is the only constant, India’s experiential economy has firmly established itself. This phenomenon is characterised by an eagerness to explore new products and services across online and offline channels. Fuelling this transformation are several key factors:
1. Diversity of choices: In sectors like fashion and personal care, direct-to-consumer (D2C) brands have proliferated, offering consumers an array of choices. This shift in the market empowers consumers to experiment with emerging brands, a trend extending to Bollywood and the film industry.
2. Cinematic revolution: The film industry, particularly Bollywood, is witnessing a change in viewing patterns. Audiences are increasingly open to exploring OTT platforms and emerging stars. This willingness to embrace change reflects a broader shift towards experimentation.
3. Food industry dynamics: India’s food and beverage (F&B) industry is experiencing a transformation as global brands face challenges from dynamic, emerging competitors. These newcomers are growing faster than traditional market leaders, driven by evolving consumer preferences.
Esta historia es de la edición October 07, 2023 de BW Businessworld.
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