Buy Indian, Bye Western: Gen Z embraces the home truth

economictimes.indiatimes.com:

Gen Z, are showing more interest in buying local products, pushing up the age group’s contribution to their sales in the last three to four years.
Several companies in categories such as electronics and technology products, personal care and fast-moving consumer goods (FMCG) said Gen Z roots for desi products, unlike consumers in the age group from the late 30s to the 50s, who have a soft corner for foreign brands.
Sales from younger consumers are growing at the fastest pace — two to three times the overall sales growth in the last few years, marketers said. Latest study by market researcher NielsenIQ said almost 100 million Gen Z consumers in India are shaping a new form of patriotism, going beyond traditional notions.

The contribution of local brands to total sales of true wireless speakers has shot up to 78% in calendar 2023, compared to 48% in 2020, due to more purchases by youngsters, according to latest numbers from Counterpoint Research. For smartwatches, the researcher said the contribution of local brands to total sales is 95% in 2023, from 38% in 2020.

This is despite the presence of global heavyweights such as Apple, Samsung, Vivo and Xiaomi. FMCG major Marico managing director Saugata Gupta said youngsters have far more pride in India.

He said this shows not just in their choice of brands, but also in culture, music and films. “The earlier generation’s fascination for western products is over, especially when Indian brands are successfully competing against global ones. There is a big demand for