Mintel

They are spending less on clothes and accessories, and on dining out.

Retailers face an urgent need to adopt sustainable practices, navigating consumer perceptions and innovative labeling systems.

The trend is mostly driven by consumers from Gen Z urban groups and workers.

The older generation is focusing on achieving an extended health span.

Strong communication can guarantee trust among consumers with highly processed food.

Despite the growing emphasis on sustainable products, consumers prioritize individual value perceptions when making purchasing decisions.

Brands can help consumers in finding points for connection.

They should communicate their initiatives to consumers in a way that will resonate with them.

They can leverage on K-Beauty products and traditional ingredients, amongst others.

Mintel said this is due rising priority given to self-care.

Local products offer better value for money and are more in line with consumers’ priorities.

Around 28% of younger millennials plan to switch to single spices and 35% to masala mixes.

According to Mintel Reports India, the localism mindset in India has been growing, with local brands being preferred over imported ones. Senior Lifestyle Analyst at Mintel Reports India, Saptarshi Banerjee, highlights three themes related to consumers' attitudes towards local and imported goods. First, there is an upsurge in ethical and sustainable initiatives, with consumers increasingly looking at foreign brands that support local businesses and modify their products to suit local needs. Second, imported goods are perceived to be less healthy and offer less value for money compared to Indian brands, although they are considered more technologically advanced and premium. Lastly, imported brands lack differentiation and visibility in India, with almost four out of ten consumers finding it hard to differentiate between imported and Indian brands. Banerjee suggests that Indian brands should capitalize on the pandemic-driven interest in health and wellness and weave in traditional ingredients to cater to both Indian and international consumers.

Bone and digestive health, and immunity are the top three benefits they want from VMS.