WOMEN - THE NEW DECISION MAKER OF RURAL INDIAN HOUSEHOLD
It is a known fact that rural India is a growing market with a large potential customer base. Companies are eager to exploit this opportunity, but there are many obstacles that the brand needs to overcome to establish itself in the hinterlands of the country. Companies are still figuring ways to enter and grow here. However, the main question remains - who should the companies target?
In a recent survey carried out by Accenture* a surprising result was thrown up. The report identified the following key points which make it clear that Indian rural women hold the baton when it comes to making a purchasing decision. There are various factors that contribute to it:
Most companies trying to reach the rural customers broadly fall in the following categories*:
1.35% of rural women hold paying jobs and contribute to the household income. In urban India, only 21% of women are working.
2.
Many women buy things on their own.
3.
An astounding 84% travel outside their village to the main headquarters to buy. They want value for their money and are ready to make the extra effort to get the best product.
In addition to this, we have Microfinance companies and cooperative banks that give rural women the financial support they need to become entrepreneurs. Finally, women in rural India have an option to get affordable micro-credit and hence are exploring income-generating opportunities. This has helped them gain self-esteem and confidence. The microfinance companies also provide them credit for buying consumer durables that can help them improve their lifestyle.
Rural women are rarely impulsive buyers. Instead, they are smart customers who are need-based buyers and do a complete research of any brand before spending on it. Her main data center is her friends and relatives who share their own experiences with various products and services.
Therefore, it is essential that a brand gives a good buying experience to its customers. Consumer durables are costly, and these women are cautious of the purchase they make. If they have a bad experience either during shopping or after-sale service, they will not be sending any more consumers from their social group to the brand. They heavily rely on word of mouth advertising than traditional marketing campaigns for such buys. Giving a good product and ensuring a strong after-sales service will help the brand gain the necessary footing.
Rural women have evolved into discerning customers, who will not settle for substandard products or services. They want:
- Value for money
- Reliable and sturdy product
- A product that fulfills their needs
- A brand that has high aspirational value
The author is CEO & Co-founder of 72 Networks
Follow us on Linkedin, Facebook, Twitter, Instagram.
The digital revolution has redefined many aspects of human life and this trend is not settling anytime soon, in fact, many technological advancements are foreseen in this space.
Modern businesses rely a lot on logistics solutions and among many others, AI has made technological disruption in the logistics sector as well.
Artificial Intelligence has a huge presence in our personal lives and its application in businesses is increasing at a fast pace.
Post data extraction and classification, robotic process automation can help input the data into accounting software to generate order, execute the payment and send a confirmation email to the customer, without human intervention at any point.
EY’s fraud detection system has recorded 97% accuracy and many companies with high repetitive tasks are planning to follow the path.
COGNITIVE CONTRACTS Logistics and supply chain management companies, worldwide, manage networks of facilities and several vehicles.
Last-mile delivery logistics is no rocket science. It is one of the most common networks in the transportation industry.
And I think this guide will act as an eye-opener for anyone facing confusion with last-mile deliveries.
To the ones within the industry, they know how vast and important it is last-mile delivery logistics.
It contributes about 28 percent of the total cost of the shipment. In addition, growth in e-commerce is also rising and radicalizing the way shippers look down at last-mile logistics.
Moreover, logistics of e-commerce which includes fulfillment and delivery has further made last mile very crucial in the transport industry.
This article will tell you how to minimize last mile delivery issues
The Last Mile Delivery market research report provides the latest industry data, growth, key segments and future trends on the basis of the detailed study.
This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the last mile delivery market include United Parcel Service of America, Inc., FedEx Corporation, USPS, XPO Logistics Inc., DHL International GmbH, Ryder System Inc., Schneider National Inc., J.B. Hunt Transport Inc., ArcBest Corporation, SEKO Worldwide LLC.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Last Mile Delivery Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/last-mile-delivery-market/download-sampleMarket DynamicsFlourishing e-commerce, growing millenials, and businesses is steering the growth of global last mile delivery market.
Consumers increasingly turn to e-commerce for all their shopping needs speedy fulfillment.
Along with emerging trends, the market is facing some challenges which include complexity, navigating traffic, and shortage of drivers.
