About 75% of India’s youth spend on cosmetics, apparel and mobile have surpassed Rs. 6,000 per month due to rise in pocket money, growing awareness, intense publicity campaign etc, reveals an ASSOCHAM comprehensive survey released on eve of “World Youth Day” on August 12.
In a country wide survey, ASSOCHAM interacted with 2,000 youngsters in the age group of 16-21 years to evaluate their purchasing tendencies in cosmetics, apparel and mobile phony in ten cities comprising Delhi, Mumbai, Kolkata, Bangalore, Chennai, Hyderabad, Lucknow, Ahmedabad, Jaipur and Chandigarh.
It reveals over 75% teenagers said, their branded cosmetic consumption has gone up by about 65% in last ten years. Over 58% of youth said that their expenses on cosmetics application have risen by 65% as against 68% upper middle age group to maintain their exterior” reveals the ASSOCHAM survey.
“Youth in Delhi are ahead of their counterparts in other cities as 75 per cent of them said their budget for shopping for cosmetic, apparel and phones have exceeded Rs.6,000 every month. About 25 per cent said they splurge between Rs.2,500 to Rs.3,500 on cosmetic, clothes and phone every month.
The expenditure has exceeded Rs. 6,000 per month against their average expenditure of less than Rs 1,500 in year 2003 an increase of over 300%, reveals the ASSOCHAM Secretary General Mr. D S Rawat.
On an average in this segment, a good majority of respondents felt that they would spend less than Rs. 1,000 per month on cosmetic use during year 2003 which have exceeded Rs. 4,500 per month now and the main reasons for this is increasing participation of women in employment basket.
Secondly, massive advertisements both in electronics and print have influenced the customers in this segment that these inspired for increased allocation of their monthly expenses towards theses articles.
The survey also came out with interesting revelation, highlighting that males have developed a special craze for cosmetic application as compared to their female’s counterparts and their monthly expenses rose by about 35-40% during the period.
Looking good and appearances are important and youngsters across India spend the most each week on clothes, mobile phones and going out as per the survey. Food also tops their passions. On an average, about 25 per cent of their pocket money is spent on food, as per the survey. The youth doesn't think twice before blowing money on mobile phones, clothes, eating out, even cosmetics.
However, the consumption pattern of cosmetics and apparel incase of teenagers went up substantially between 2010 and 2013 because of increasing awareness for up-keep of teenagers exterior as 75% of teenagers wards admitted this.
According to findings, the male consumers tend to spend more on cosmetics i.e. Rs. 1,000- 5,000 per month when compared to females mainly due to the demand for men's hair care, deodorants, razors and blades. It also stated that 85% of male consumers generally prefer to purchase and make the brand selection of cosmetics, apparel, mobile individually. Quality is the major factor influencing the purchase decision of male consumers, accepted 85% of them.