Product details

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Abstract

Being one of the rapidly growing economies in the world, India was ranked fifth largest economy during the first quarter of FY 2022-23. A number of growth factors including the fast-growing Indian domestic consumer market, digital growth, the acceleration of foreign direct investment inflows, etc, had boosted the Indian economy during recent times. Subsequently, the Indian economy had been recovering from various crises such as the COVID-19 pandemic, the Russia-Ukraine war, steep inflation, etc. In this context, the soaring inflation had badly hit the Indian economy. Consequently, it had largely impacted the shopping habits of consumers in the country. As per the market study of the global commerce media company 'Criteo' titled, 'The Rise of Savvy Shoppers Study', the economic uncertainty and soaring costs had created savvy shoppers who were keen to derive the best value for their money without surrendering the products they would love to purchase. In order to control inflation, the Government of India and Reserve Bank of India had taken up several corrective measures. With this background, would the consumers' shopping habits be regained while combating the towering inflation in the Indian economy in future?

Teaching and learning

This item is suitable for undergraduate, postgraduate and executive education courses.

Time period

The events covered by this case took place in 2023.

Geographical setting

Region:
World/global
Countries:
India; Ukraine; Russia

About

Abstract

Being one of the rapidly growing economies in the world, India was ranked fifth largest economy during the first quarter of FY 2022-23. A number of growth factors including the fast-growing Indian domestic consumer market, digital growth, the acceleration of foreign direct investment inflows, etc, had boosted the Indian economy during recent times. Subsequently, the Indian economy had been recovering from various crises such as the COVID-19 pandemic, the Russia-Ukraine war, steep inflation, etc. In this context, the soaring inflation had badly hit the Indian economy. Consequently, it had largely impacted the shopping habits of consumers in the country. As per the market study of the global commerce media company 'Criteo' titled, 'The Rise of Savvy Shoppers Study', the economic uncertainty and soaring costs had created savvy shoppers who were keen to derive the best value for their money without surrendering the products they would love to purchase. In order to control inflation, the Government of India and Reserve Bank of India had taken up several corrective measures. With this background, would the consumers' shopping habits be regained while combating the towering inflation in the Indian economy in future?

Teaching and learning

This item is suitable for undergraduate, postgraduate and executive education courses.

Settings

Time period

The events covered by this case took place in 2023.

Geographical setting

Region:
World/global
Countries:
India; Ukraine; Russia

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