Rise of Niche consumption markets in India
By: Babu, S. Sudhakar.
Material type:
ArticlePublisher: 2013Description: p.128-138.Subject(s): Consumption - India | Consumers - India | Consumption
In:
Indian Journal of Public AdministrationSummary: The rise of a consumption driven economy in this relatively newer sphere of luxury goods brings with it unregulated economic activities. Historically, any unhindered growth in new markets has been detrimental to consumer interests in the country. An attempt is made here to outline some of these niche markets that have grown over the past half-decade. It is hoped that drawing attention to these new markets will provide a better understanding of the role of businesses as the main driver for the growth of these niche markets. While in the developed world right to redress is perhaps the most commonly exercised consumer right, in developing countries, consumers are still wary of getting involved in legal redress system. This may make the manufacturers and retailers of high value goods unmindful of consumer rights
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Articles
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Indian Institute of Public Administration | Volume no: 59, Issue no: 1 | Available | AR115969 |
The rise of a consumption driven economy in this relatively newer sphere of luxury goods brings with it unregulated economic activities. Historically, any unhindered growth in new markets has been detrimental to consumer interests in the country. An attempt is made here to outline some of these niche markets that have grown over the past half-decade. It is hoped that drawing attention to these new markets will provide a better understanding of the role of businesses as the main driver for the growth of these niche markets. While in the developed world right to redress is perhaps the most commonly exercised consumer right, in developing countries, consumers are still wary of getting involved in legal redress system. This may make the manufacturers and retailers of high value goods unmindful of consumer rights
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