They are multi-disciplinary and goal-oriented. Yet, they identify strongly with their parents and are even proud of Indian traditions and culture much more than their western counterparts, according to a global research conducted by The Futures Company of the WPP-Kantar Group.
Only 6% identify with celebrities. Instead, they look up to real-life heroes and their parents. They appreciate companies and brands that are trustworthy and authentic and stay true to their values.
Standing out in the crowd without being too different was much more important for the Indian Millenials than their counterparts in the uk and the US. It was to be achieved through diverse tastes, interests and not just brand choice.
All of them also said trying new experience and sensations held more novelty factor than possessions — 62% in India, 59% in the UK and 64% in the US.
The emergence of trickle-up innovation in BusinessWeek
This month, General Electric's (GE) health-care division will begin marketing a first-of-its-kind electrocardiograph machine in the U.S. Although packed with the latest technology, the battery-powered device weighs just six pounds, half as much as the smallest ECG machine currently for sale. It will retail for a mere $2,500, an 80% markdown from products with similar capabilities. But what really distinguishes the MAC 800 is its lineage. The machine is basically the same field model that GE Healthcare developed for doctors in India and China in 2008.
As such, the diagnostic tool exemplifies a way of thinking that may be ideally suited to dealing with the widening recession: creating entry-level goods for emerging markets and then quickly and cheaply repackaging them for sale in rich nations, where customers are increasingly hungry for bargains. The term for this new approach is trickle-up innovation.
The Convenience Store, much like the city dweller, has decided to take time out from its high rise roots to have an exclusively chic affair at the St Martins Lane Hotel. From March 19 to April 9 the high concept store will take over the Front Room at St Martins Lane and create a transitory showroom featuring the one-off, coveted designer pieces it is famed for.