Modern homes, gizmos…Elite prefer life King-size
India’s affluent class is on an overdrive to improve its lifestyle
.The rich enjoy shopping—the more branded, the better—want modern homes with the latest gadgets. Are willing to pay more for quality and love pampering themselves. With average monthly incomes touching Rs 73,000, rewarding themselves is not such an effort either.
These are the findings of the latest Synovate Pan Asia Cross Media Survey (PAX) that reveals the affluent are willing to spend and aspire for the best.
Amit Adarkar, director of Synovate India, says The surveys shows the elite love living life to the hilt. As they’ve a higher propensity to spend , they like indulging in premium items such as laptops and camcorders .But they are willing to take risks .No wonder they love dabbling in stocks and bonds.
In fact, their willingness to open their wallets and enjoy the fruits of their hard work reflects the country’s economic buoyancy .The survey also shows that ownership of hi-end personal items has grown phenomenally over the past one year .Ownerships of laptops and notebook computers have grown from 3.47% to 9.7% , that of PCs increased to 39% , cell phones to 54% and those with internet to 44%.Ownership- of DVD players too has risen from 12% to 25%--a robust 110% over the last year Ditto for digital video cameras and flat screen TVs.
Improved lifestyles also mean greater alcohol consumption .Whisky, of course , remains the favorite tipple .With shopping lists getting longer, credit card ownership too has seen a rise (51%) and so has that of cars .Leisure travel and fancy holidays too have gone up in the last year by a whopping 71%.
Hedonists, shopaholics or just compulsive buyers—call them what you want –but the wish-list of the affluent shows they’re planning to indulge in more big-ticket items. While many say they intend to invest in stocks and bonds, investments in property and life insurance will see a decline.
Being tech-savvy, the respondents also plan to add a number of fancy gadgets to their lives—notebook computers, plasma TVs and cell phones with WAP. Luxury watches and designer leather were are other indulgences they look forward to. The results also show Indians are brand-conscious and are willing to fork out more for quality .