Some 24 million (240 lakh) babies are born in India per annum, much more than born in any other country globally.
What do you know about them? It’s not only about their rising numbers. It’s about their mindsets. It’s about their approach. It’s about their thinking, their preferences, likes, dislikes and everything else that make a kid a kid.
One of the most fascinating and complex facets of retailing happens to be branded children’s apparel. This segment has been till now small and largely stable. But exciting times are in the offing. In the kids apparel market, the large variety, segmented customer profile and changing tastes plays a big role. Also, the children’s buying behaviour, influence of parents and media makes a huge difference in the purchase decision. Selling kids apparel you would soon realise is no child’s play. Spunkywear, for instance, is an iconic global apparel brand. Its premium name commands a loyal customer following. In India, Spunkywear has been a prominent brand in adults wear segment. The company now aspires to achieve a similar status in kids segment with its brand ‘Spunkywear Kids’.
Children are also the main focus of Indian families, and their aspirations in terms of education and career choices are quite high today. The average family size in India has been on a decline, coming in now at almost 4.3 as compared to earlier years when it was more than 5. With the reduction in their average size and the increase in their incomes, Indian families have more money to spend. And children being the main focus, parents try their best to fulfill their aspirations. Net result, they get more attention and participate a lot in the decision making process.
Gone are the days when children would go ga-ga over a doll or a toy car. With most of them buying toys on their trips abroad now, the desi market is literally burning the midnight oil to come to terms with this demanding shopper. Education consultant Ekta Singal, mother of a three-year-old, says, "My son knows his mind. He is very definite and selective about the toys he picks up." Echoes Saurabh Gupta, a toyshop owner, "Parents are happy to go by their children's choices. The price is hardly a consideration."
Next time you tell your friends that you are taking your children shopping, correct yourself. If the figures are anything to go by, it is the little ones who are taking you on a shopping spree because, incidentally, you hold the purse strings.
From toys to FMCGs to apparel to gizmos, kids want it all. And this snooty tiny tot is responsible for a $3 billion market, which is growing even as you read this. India is the largest children's market in the world and such are the demands of children here that business organisations and associations are holding meets and calling experts to understand what children want.
India has a rapidly expanding middle class and therefore the world’s largest retail groups have long been circling India and are urging the Government to drop rules that prevent foreign companies owning multibrand retail operations
