The ‘ANT’ and the grasshopper
Decoding the mindset of the Indian financial customer

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	Author(s): Kalyan Karmakar, Ipsita Ghosh Collection: Congress 2009 - Leading The Way - Ethically, Responsibly, Creatively Keywords: Innovation, Emerging Markets, Recession ESOMAR Congress 2009 Award Nominee - Best Paper Overall

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The effects of the economic downtown of 2009 in India, an emerging market, were comparatively muted, partly attributed to macro economic factors such as the governmental regulatory measures.
But was there anything inherent in the Indian consumer which provided protection from the global economic storm? Research findings suggest that the Indian consumer has a conservative approach to finance despite the recent economic liberalisation. Their focus is on safety of savings rather than on growth of investments. Consequently their exposure to credit and equity markets has been limited, which cushioned the Indian consumer in times of economic volatility. Marketers in the financial sector need to acknowledge this conservative mindset while connecting with the Indian consumer.