Urban consumers apathetic to retail prices: Survey
Saturday, 15 December 2007, 02:46 IST
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New Delhi: Less than five percent of an estimated Indian urban population of 350 million takes more than a cursory look at the maximum retail price (MRP) printed on goods, says an industry survey. "There is a total lack of awareness even amongst urban customers about the maximum retail price of food, grocery, toiletry, cosmetics and other FMCG (fast-moving consumer goods) products before buying them," the survey conducted by the Associated Chambers of Commerce and Industry of India (Assocham) said. The reason, Assocham said, primarily is the greater purchasing power among urban consumers. This trend has been noticed both while they were shopping in malls or neighbourhood shops. The survey also revealed that over 60 percent of urban customers comprises women, who generally do not bargain with shopkeepers while buying FMCG products. Also, urban consumers, who are increasingly becoming brand and quality conscious, are ready to pay any price to obtain a particular product, the survey said. Lack of awareness and indifference towards bargaining is also due to the sudden emergence of a competitive nature in the economy, which in turn in increasing the faith of consumers on shopkeepers, the survey noted.
Source: IANS
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