Marketers, take note: The spending patterns of Indian households change in distinct ways as incomes go up
At this level, ownership of smartphones, refrigerators and colour TV sets accelerates materially. The smartphone, in particular, demonstrates near-luxury characteristics despite its relatively modest ticket size. With a correlation of 0.95 with income and an elasticity of 1.79, smartphone ownership increases more than proportionally as incomes rise. This suggests that digital connectivity is not merely a functional purchase but an aspirational marker.
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