A CONSUMER-DRIVEN EXPERIENTIAL REVOLUTION RESHAPING INDUSTRIES
BW Businessworld|October 07, 2023
INDIA, A NATION renowned for its diverse culture and traditions, has seen a remarkable transformation in recent years. The emergence of the experiential economy, driven by the millennial generation, has ushered in a new era of innovation and change across various industries. From fashion and personal care to entertainment and ecommerce, this seismic shift is redefining consumer preferences and reshaping the business landscape.
Karan Taurani
A CONSUMER-DRIVEN EXPERIENTIAL REVOLUTION RESHAPING INDUSTRIES

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.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

Esta historia es de la edición October 07, 2023 de BW Businessworld.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

MÁS HISTORIAS DE BW BUSINESSWORLDVer todo
MEMORIES & IMPRESSIONS
BW Businessworld

MEMORIES & IMPRESSIONS

Ratan Tata was an exceptional human being. He was a visionary leader, esteemed industrialist, and a humanitarian, who left an indelible mark on India and the world.

time-read
3 minutos  |
October 19, 2024
The Robotaxi Market
BW Businessworld

The Robotaxi Market

The robotaxi market is shaping up to be a high-stakes battleground as tech giants and automakers race to transform urban mobility.

time-read
1 min  |
October 19, 2024
And the Nobel Prize Goes to AI
BW Businessworld

And the Nobel Prize Goes to AI

The recent Nobel Prize T awards to AI pioneers affiliated with Google have sparked a broader conversation about Big Tech's influence on research and the limitations of traditional prize categories.

time-read
1 min  |
October 19, 2024
Ola Electrified
BW Businessworld

Ola Electrified

Once considered a trailblazer in India’s electric vehicle (EV) ecosystem, Bhavish Aggarwal’s Ola Electric now faces a major accountability crisis.

time-read
1 min  |
October 19, 2024
Sharp Slide in Industrial Output on Eve of Deepavali
BW Businessworld

Sharp Slide in Industrial Output on Eve of Deepavali

India’s index of industrial production (IIP) saw a sharp reversal in August, contracting by 0.1 per cent, in stark contrast to the 4.7 per cent growth in July, mostly because of significant contractions in mining and electricity generation.

time-read
1 min  |
October 19, 2024
Heralding the Solar Era with Sustainable Electrification
BW Businessworld

Heralding the Solar Era with Sustainable Electrification

RAJEEV KASHYAP on the economics of solar power, the hurdles in scaling it, and much more

time-read
2 minutos  |
October 19, 2024
A WELL-GREASED MACHINE
BW Businessworld

A WELL-GREASED MACHINE

The OmniBook X14 laptop runs on first-generation Snapdragon X Elite, which bets big on Al-enabled productivity and battery life, but falls short when it comes to overall experience, says Deep Majumdar

time-read
4 minutos  |
October 19, 2024
DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH
BW Businessworld

DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH

For a family of four living in a metro, it is recommended to opt for a family floater health insurance plan with a sum insured of at least Rs 15-20 lakh

time-read
7 minutos  |
October 19, 2024
Disruption Ahead: Beyond Organisation Charts and Structures
BW Businessworld

Disruption Ahead: Beyond Organisation Charts and Structures

ALBERT EINSTEIN FAMOUSLY said, “We cannot solve our problems with the same thinking we used when we created them.

time-read
3 minutos  |
October 19, 2024
Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment
BW Businessworld

Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment

We are on the stage of global warming, and these technologies not only help prevent further damage but also leave behind a better environment for future generations.

time-read
2 minutos  |
October 19, 2024