One Key Trend Driving India's Business, According To Mamaearth's Ghazal Alagh - Full Post

Ghazal Alagh, co-founder of Mamaearth has posted on LinkedIn highlighting the transition from a collective economy to an individualistic economy. She highlighted the changing market dynamics and changing user base, along with sharing data about the Consumer Market Growth

What Did Ghazal Alagh Say?

"Is India shifting from a ‘we economy’ of collective priorities to a ‘me economy’ driven by individual aspirations? 
Here’s how this change is reshaping businesses and brands." Alagh posted.

She shared a series of visuals to talk about her point.

Alagh spelt out the difference between me and we economy "Me Economy: Driven by individuals making choices on their preferences, lifestyles, and identities.
We Economy: Shaped by social norms, family needs, and collective decision-making." she wrote. Alagh also said that "Traditional FMCG giants are now investing heavily to keep pace with "Me Economy", indicating a shift towards creating highly personalized products.

Alagh also said "Gen-Z and millennial consumers account for over 50 per cent of India's total population, and go for brands that align with their personal beliefs."

She also shared insights into India's Consumer Market Growth from 2024 to 2030 " 6 per cent Annual Growth in Per Capita Income (Last Decade) Increased personal consumption & rising purchasing power. 150M+ Indians expected to shop online regularly by 2025. Digital shift in consumer behavior." she wrote, adding that "Online retail to grow from $84B in 2021 to $200B by 2026."

The Mamaearth co-founder also implied that the market is moving away from a one-size-fits-all approach, and have to create deeper connections with the customers.